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Thursday, 19 December 2019

Population growth of +381,600 in FY2019

Population grows 1.5pc to 25.5m

Moves to slow permanent migration to Australia took some effect across recent quarters.

The natural increase of the population was a bit higher over the 2019 financial year at +142,600.

And net overseas migration of +238,800 was just +100 higher than it was in the prior year. 

Overall, population growth in FY 2019 was therefore only modestly higher year-on-year at +381,600 (FY 2018: +380,800).

The rampant population growth of a few years ago has therefore eased a little, although levels of growth do remain very strong. 

South-east Queensland as a destination continued to dominate the interstate moves over the financial year, while net interstate migration to Victoria has now calmed down a little.

People are less inclined to leave Western Australia now than they have been for some years. 

Piecing it together, some 86 per cent of population growth in FY 2019 was accounted for by New South Wales (+109,400), Victoria (+132,800), and Queensland (+85,700).

The estimated resident population of the Northern Territory continues to shrink, to be down by -1,200 over the year to June 2019.

Nerida Conisbee of REA Group has noted that the Darwin housing market is really struggling, with no positive indicators registered at all.

Next up we can map these figures against dwelling completions.