Asian century gathers pace

Asian Century

Australia's Indian-born population has continued to explode to 846,000 in FY2023, from only 378,000 a decade earlier. 

The Chinese-born population has also increased from 432,000 to 656,000 over the same time period.

The English-born population, on the other hand is falling.

Our parents are getting old, the exchange rate isn't what it used to be, and many Brits came on the promise of buying the Sylvania Waters style McMansion, which isn't as easy as it used to be these days. 

Reported the Australian Bureau of Statistics:

Source: ABS

Thus it won't be long before there are more Indian-born Aussies than of any other nation. 

Source: ABS

The overseas-born population increased by +494,000 over the financial year to 8.2 million.

Source: ABS

At 30.7 per cent, it's highest share of overseas-born Aussies in the 130 years since 1893. 

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In other news the ABS reported that capital cities are now leading rental price growth.

Having fallen in the pandemic 'race for space' the highest rental price growth has been seen in the inner cities as rents have normalised higher. 

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