Record population growth
Annual population growth in Australia ran at a record +624,100 in the 2023 financial year, or +2.4 per cent.
Source: ABS
Internally and within Australia, recent times have largely been about a return to capital city dominance.
The 2020 and 2021 net interstate migration surge out of Victoria has ended now, and may even prove to be reversing a little.
Queensland (+32,250) and Western Australia (+11,650) continued to attract the most net interstate migrants over the course of the financial year.
In terms of the fastest rate of growth, Western Australia led the way with a thumping +3.1 per cent full-on population boom across the financial year, in a distant echo of the resources construction boom years.
Year-on-year population growth was also extremely high in Victoria (+181,800), New South Wales (+172,600), and Queensland (+138,500).
The estimated growth in the resident population has slowed slightly - if slowed is the right word - to around 1,728 per day, suggesting that the estimated resident population will be around 26,950,000 by the end of the year.
That's a little bit lower than previous estimates, but essentially back on the pre-pandemic trend.
Of course, population growth of +624,100 is still a huge number, and it makes the Treasury estimates for net overseas migration declining to +375,000 in FY2024 seem a trifle...um, optimistic.
In the meanwhile, red hot population growth continues.
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