Population growth normalising
Australia's population growth slowed to +551,200 or +2.1 per cent over the year to June 2024, as net overseas migration eases.
Although these are still massive numbers over the year, the rate of population growth is a little bit slower than might've been assumed.
In fact, this estimate for resident population will see about -80,000 wiped off the population clock, from 27,530,000 to around 27,450,000 today.
The rate of net interstate migration to south-east Queensland and Western Australia remains at very high levels, but is possibly just cooling off a little now.
Patching in net overseas migration and the natural population growth, over the year there was massive population growth into Victoria (+165,100), New South Wales (+143,200), and Queensland (+125,800), while the rate of population growth was still +2.8 per cent in Western Australia.
Source: ABS
The population clock is now assuming population growth of one additional person every 58 seconds, or approximately +540,000 per annum.
Looking ahead, expect to see population growth normalising back down to around +400,000 or so per annum.
