Australia’s population grows by 2.4%

Australia's population grew by 2.4 per cent in the year to 30 June 2023, according to the figures released by the Australian Bureau of Statistics (ABS) at the end of last year.

On 30 June 2023, our population was 26.6 million people, an increase of 624,100 people over the year.

Putting that in perspective it’s like adding one and a half Canberra’s to our population with the need for all the accommodation, services, infrastructure, and schools.

And this is at a time when construction of new dwellings is slumping.

This means we’ll be experiencing a housing shortage not just for 2024, but also for a number of years to come.

Beidar Cho, ABS head of demography, said:

“There were 737,200 overseas migration arrivals and 219,100 departures, adding 518,100 people to our population from overseas migration. 

People arriving on temporary visas, such as international students were the main contributor to the arrivals, with the number of departures remaining low as the cycle of arrivals and departures have not yet returned to typical pre-pandemic patterns."

The natural increase was 106,100 people, a decrease of 15.4 per cent from the previous year.

There were 295,900 births and 189,900 deaths registered in this time, with deaths increasing 3.6 per cent and births decreasing 4.1 per cent.

“Western Australia had the fastest rise in population, growing 3.1 per cent over the previous year.

This was followed by Victoria, which grew by 2.7 per cent, and Queensland which saw a 2.6 per cent rise,” Ms Cho said.

Tasmania saw the least growth, with a 0.3 per cent increase in population in the same period.

Source: ABS

About Robert Chandra Robert Chandra is a Property Strategist at Metropole and has an intrinsic understanding of property markets backed by many years of real estate experience. This coupled with several degrees gives him a holistic perspective with which he can diagnose clients’ circumstances and goals and formulate strategies to bridge the gap.