Melbourne is Australia’s fastest growing city

Melbourne has become Australia’s fastest growing city and Victoria has overtaken Western Australia as Australia’s fastest-growing state.

And Australian Bureau of Statistics projections suggest it set to overtake Sydney as the country’s biggest city in 2056.

At the current rate of growth its population will increase by 10% over the next 5 years.

Of course this is one of the reasons it’s property markets are performing so well.

What the figures show

New figures from the ABS show Victoria gained an extra 101,500 residents in the year to December, and Melbourne an extra 95,600.

At 1.8 per cent, Victoria’s growth rate surpassed Western Australia’s 1.6 per cent and the 1.4 per cent recorded in NSW and Queensland, which was the Australian average.

South Australia grew 0.9 per cent, Tasmania 0.3 per cent, the Northern Territory 0.4 per cent and the Australian Capital Territory 1.1 per cent.

In December greater Melbourne housed 4.4 million residents and the bureau says this population will almost double to 8.2 million by 2056.

Victoria is pulling in far more migrants from the rest of Australia than any other state.

Source: Sydney Morning Herald

In the year to December Victoria gained a net 9340 new arrivals from interstate.

Queensland gained a net 5600 and every other state lost population to interstate migration.

NSW suffered net emigration of 5570.

A net 2100 South Australians  moved to Victoria, in the year to December, and  2750  came from NSW.

A net 1400 came from Western Australia.

And they’re not coming for the weather

Job vacancy figures released at the same time paint Victoria’s jobs market as one of the best in the nation, with 4.8 unemployed people searching for each vacant job, a result only bettered by NSW which has 4.4 unemployed per vacancy.

The odds of finding a job are far worse in Western Australia (5.2 unemployed per vacancy), Queensland (5.6), South Australia (7.5), and Tasmania (8.5).

Nationally job vacancies are growing in real estate (up 28 per cent in the past year), finance (up 11 per cent) and retail trade (up 6 per cent).

Vacancies are falling in mining (down 29 per cent), manufacturing (down 8 per cent) and construction (down 5 per cent).

A few more stats:

  • The national population growth rate of 1.4 per cent is the slowest since 2011.
  • Australia had fewer births than at any time since 2006.
  • Around 289,000 Australians left Australia to live overseas in 2014, the biggest number on record.

Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.


Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.

Michael Yardney


Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit

'Melbourne is Australia’s fastest growing city' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.


Copyright © Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts