In the space of two centuries, Sydney has transformed itself from a British penal colony to a thriving cosmopolitan metropolis, a financial capital of the Asia-Pacific region, and an international tourist center with a population of close to four million. Located near the southern end of Australia's eastern coast, it is the largest city on the Australian continent, the capital of New South Wales, and one of the world's largest metropolitan areas. The city's dominant feature has always been its stunning physical location on one of the world's most beautiful harbors.
The Sydney region contains around 4.2 million people. Population forecasts suggest Sydney's population is expected to reach five million people by the 2020s and may reach six million by mid-century.
Data for the past 25 years shows that Sydney's population growth ranged from a low of 400 people per week in 1990 to a high of 1,150 people per week in 1996. In the last decade, growth in Sydney has twice topped 50,000 per year. On average Sydney grows by about 780 per week or around 40,000 per year.
Sydney population by year | 1800 | 3,000 | 1820 | 12,000 | 1851 | 39,000 | 1871 | 2000,000 | 1901 | 500,000 | 1925 | 1,000,000 | 1962 | 2,000,000 | 2001 | 3,948,015 | 2006 | 4,119,190 | 2011 | 4,627,345 | 2026 | 5,426,300 (projected) | 2056 | 6,976,800 (projected) |
Sydney experienced an extended period of price stagnation, although prices did rebound strongly after the GFC (Global Financial Crisis) induced downturn. In the last 18 months, higher interest rates and a winding back of first home buyer stimulus has resulted in moderate price falls in all markets. Nationally, house prices have declined five per cent, while apartment prices have fallen almost…