There is a complex relationship between population growth and property prices in a city or country. Generally, as the population of an area grows, the demand for housing increases, which can lead to a rise in property prices. Additionally, population growth can bring about economic development and job opportunities, which can also contribute to an increase in property prices.
However, there are also other factors that can affect property prices, such as the availability of land, the level of construction activity, interest rates, and government regulations. Additionally, in some cases, population growth may not necessarily lead to a rise in property prices if there is an oversupply of housing or if there are other factors that negatively impact the local economy.
Overall, the relationship between population growth and property prices is complex and can be influenced by a range of factors. It is important to consider multiple factors when analyzing the property market in any given area.
There are several academic papers that explore the relationship between population growth and property prices. Here are a few examples:
1. "The Impact of Population Growth on House Prices in Australia" by Steven Rowley and Rachel Ong, published in the Journal of Housing Economics in 2010.
2. "Population Growth and House Prices: A Study of Australian Cities" by Ryan Greenaway-McGrevy and Arthur Grimes, published in the Journal of Property Research in 2015.
3. "The Impact of Population Growth on Housing Prices and Housing Affordability in China: An Empirical Study Using Provincial Panel Data" by Jing Wu, published in the International Journal of Housing Markets and Analysis in 2017.
4. "Population Growth, Urbanization, and Housing Prices in China" by Siqi Zheng and Matthew E. Kahn, published in the Journal of Regional Science in 2018.
These papers provide insights into the relationship between population growth and property prices in different countries and regions, and can be useful for anyone interested in understanding this topic further.