Population tied to Vic growth: report

(Australian Associated Press)

An influx of migrants into Victoria is helping support jobs growth, a report shows.

The state has experienced its strongest population gain – more than 2.1 per cent in the past year – for decades, a Deloitte Access Economics report revealed on Monday.

“The continuation of solid population growth should help underpin growth across the state’s economy,” the report said.

But Deloitte also warned the recent closure of the Hazelwood Power Station and subsequent energy pricing developments could lead to “reliability headaches”.

It also flagged a slowing in the housing market, particularly for inner-city apartments.

“Too many apartments are being built, the foundations underpinning foreign demand are fragile, and prices have risen to levels that only make sense to Sydneysiders,” the report said.

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