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PERSONAL/BUSINESS COACH | PROPERTY BUYER | ANALYST

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Thursday, 21 March 2024

Population growth smokes all previous records

Population growth soars further

Australia's population growth was +659,800 or +2.5 per cent over the year to September, for another record high, mainly driven by inbound overseas migration. 


Source: ABS

As such, the estimated population here today is higher than previously thought, at around 27,145,000, and the pandemic 'shortfall' has now been completely erased (and then some). 


Victoria lost an estimated 39 people only interstate in the September quarter, while net interstate migration from New South Wales fell to the lowest level in years. 

South Australia, the ACT, Tasmania, and the Northern Territory are now all losing people interstate, mainly to the benefit of Queensland (+32,600 net gain over the year) and Western Australia (+11,200 net).


Totting it all up annual population growth was stupendously high in Victoria (+192,700), New South Wales (+186,100), Queensland (+143,600), and Western Australia (+93,600), while South Australia (+1.7 per cent) and the ACT (+2.1 per cent) also recorded a large percentages increase in estimated resident population.


Source: ABS

Huge numbers all around as the rental shortage worsens.

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