September 20 2023
"Population growth is often spoken about as an important factor that affects housing demand and the movement of house prices in Australia." - Marco Zande, Strategy Executive
Australia’s population grew by 2.2 per cent to 26.5 million people in the 12 months to March 31, according to the latest data from the Australian Bureau of Statistics.
Australia’s average population growth from June 30, 1992 to June 30, 2022 averaged 1.3 per cent annually.
ABS head of demography Beidar Cho said that 13 months after international borders were re-opened, net overseas migration had accounted for 81 per cent of growth and added 454,400 people to the population in the year to March.
Net overseas migration was driven by a large increase in arrivals (up 103 per cent from last year to 681,000) and only a small increase in overseas migrant departures (up 8.8 per cent to 226,600).
This pattern, low departures in particular, is a catch-up effect after closed international borders, as international students return with only a small number departing because very few arrived during the pandemic.
Australian population to March 31
Source: ABS
This effect is expected to be temporary as the number of departures will increase in the future as temporary students start departing in usual numbers.
The natural increase was 108,800 people, a decrease of 18.5 per cent from last year.
There were 301,200 births and 192,300 deaths registered during this time—deaths increased 7.9 per cent and births decreased by 3.4 per cent.
Covid-19 mortality was still a contributor to an increased number of deaths, according to the ABS.
Western Australia was the fastest growing state (up 2.8 per cent) followed by Victoria (2.4 per cent) and Queensland (2.3 per cent).
The largest increase in total population was Victoria with 161,700 people, slightly more than New South Wales with 156,300 people.
Source: The Urban Developer