POD (6)

By Natalie Seaman
7th June 2017

Gungahlin (in ACT’s north) is certainly an exciting place to be right now, with work on the light rail project now full steam ahead, plenty of tower cranes humming with activity on apartment developments, and of course the promise of a cinema complex which is due to start construction later this year.

With around 680* apartments in Gungahlin currently under construction, a common question going around is:  “Where are the people going to come from to fill all these new apartments?”

680 new apartments certainly sounds like a big number, but when we look at the future growth prospects for the region we can start to see the full picture.

Let’s start with the population projections for the ACT and Gungahlin. The latest projections released by the ACT Government in March 2017 looked at trends in fertility, migration and mortality and used them to work out likely population figures for the years to come.

The total actual population of the ACT as at 2015 was 390,706 and the projected estimated population for today in 2017 is just a tad over the 400K mark at 402,549. Looking a couple of years ahead, the projected estimated population of the ACT for 2019 is 415,221. This works out to be an extra 12,672 people that will call Canberra home in the next couple of years.

Looking specifically at the Gungahlin region, the actual population of Gungahlin as at 2015 was 66,756 and the projected estimated population for today in 2017 is 73,133. Fast forward to 2019 and not only will Gungahlin residents be catching the light rail into town and watching the latest movies at the brand new Gungahlin Cinema complex, but they will also have welcomed (approximately) an extra 6618 residents. The projected population for the Gungahlin region for the year 2019 is 79,751.

In summary then, over the next two years the population of the ACT will increase by 12,672 of which more than 50% of these new residents will be living in the Gungahlin region.

Table1Graph1

As the graph above illustrates, the 680 new apartments scheduled to be completed in Gungahlin by 2019 will be just a fraction of what is actually required to house the projected number of new residents.

Looking even further into the future, there are no signs of slowing down for Gungahlin. By 2027 there will be an extra 30,000 people living in Gungahlin, and by 2030 the population of Gungahlin will have overtaken that of Belconnen. Fast forward 25 years to 2032 and there will be an extra 50,000 people calling Gungahlin home (Source: ACT Projections http://apps.treasury.act.gov.au/demography/projections/act)

POD Projects Group has been operating for more than 25 years in Gungahlin, and in our opinion there has never been a more exciting time to be a business owner, property owner or resident in Gungahlin. The light rail project, cinema complex, road upgrades and exciting new residential developments will only enhance our already fantastic lifestyle, and ensure Gungahlin continues to be not only a great place to live, but a wise investment too.

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* This total of 680 apartments currently under construction includes 126 at Mezzo Gungahlin, approximately 130 at Uptown and approximately 420 at Infinity.