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Tuesday, 28 June 2022

Queensland dominates population growth

Moving to SEQ

Australia's population growth rate was picking up again by the end of 2021.

But still the population increased by only +128,000 in 2021, or +0.5 per cent.

I expect to see this reverting to +1.5 per cent or close to +400,000 next year. 


Victoria experienced a population decline in 2021, with an accelerating interstate migration to Queensland throughout the year. 

Queensland dominated population growth with +73,700 or +1.4 per cent.


Net interstate migration to Queensland was still accelerating in the December quarter, soaring off the charts to a record high of more than +50,000 in 2021. 


You can see this first hand in Queensland's rental market, which is becoming extremely tight.

Census figures also confirmed a decline in the average household size to 2.5 persons, which accounts for much of the rental crisis. 

The population count between the 2016 and 2021 Censuses recorded an increase of 2.02 million, which was surprisingly high given the two years of pandemic travel restrictions.