Australia’s population reaches 27 million

Key takeaways

Australia’s population has reached 27 million, more than thirty years ahead of predictions.

Australia’s population has increased by 624,100 over the past 12 months, equivalent to adding the population of the entire state of Tasmania (572,800) in just one year.

Based on the latest annual growth rate of 2.4%, Australia’s population will be 41 million by 2042, 16 million more than the 2002 forecasts.

Australia’s population has reached 27 million, more than thirty years ahead of predictions.

Australia’s population has increased by 624,100 over the past 12 months, equivalent to adding the population of the entire state of Tasmania (572,800) in just one year.

Based on the latest annual growth rate of 2.4%, Australia’s population will be 41 million by 2042, 16 million more than the 2002 forecasts.

It is the balance of 737,200 overseas arrivals and 219,100 departures which has led to record growth.

In the decade leading up to the extensive disruptions of COVID-19, Australia has averaged 485,600 overseas arrivals and 269,700 departures each year.

This equates to a balance of 215,900 in net overseas migration, which is less than half of what Australia experienced in 2023 (518,100 in net overseas migration).

Record growth

Australia’s population has increased by 624,100 over the past 12 months, equivalent to adding the population of the entire state of Tasmania (572,800) in just one year.

The record growth through net overseas migration means Australia has seen the largest annual increase in population in the nation’s history.

With record growth through net overseas migration, Australia has seen the largest annual increase in population in the nation’s history.

In the 12 months to June 2023, Australia’s population increased by 624,100. This is equivalent to adding the entire population of Tasmania (572,800) in just one year.

This annual growth of 624,100 is also 41% larger than the previous record when the population increased by 442,500 in 2009.

There have been 295,900 births and 189,900 deaths in Australia over the past 12 months, both of which are similar to the historical average (annual average of 305,240 births and 165,210 deaths over the past decade).

Based on Treasury’s Intergenerational Report 2002 forecast, Australia’s population was only projected to be 23.4 million by this point.

The 2002 report also forecasts a national population of 25 million in 2037.

However, this milestone was reached 19 years early, in August 2018.

In these forecasts prepared in 2002, Australia’s population growth was projected to slow into the 2000s from 1.2% at the turn of the Millennium, to around 0.6% in the 2020s, 0.4% in the 2030s, and just 0.2% in the 2040s.

However, instead of slowing growth, population growth has accelerated over recent years.

In 2023, Australia’s population has increased by 2.4%, setting a new numerical annual population increase record of 624,100.

In the Treasury’s 2002 population model, Australia’s population was to hit 25.3 million by the end of the projection period in 2042.

The latest population milestone of 27 million has been reached more than 30 years ahead of the 2002 forecast.

Even based on the updated forecasts of the 2007 Intergenerational Report, such has been the recent acceleration in Australia’s population growth, the 27 million milestone has arrived 13 years early.

When will Australia reach 28 million people?

If the growth of one new Australian every 50 seconds persists, the next million could take less than 2 years (one year and 214 days to be exact – 2024 is a leap year), with the 28 million milestone arriving on the 25th of August 2025.

About Mark McCrindle Mark McCrindle is principal of McCrindle and a social researcher, a demographer, futurist and social researcher with an international following. His passions lie in tracking emerging issues and researching social trends analysing customer segments. Find out more about McCrindle