Strength in population in growth continues

There's been a bit of an odd blip in the natural increase figures for Australia's resident population, with processing of births data now up to speed, and fewer deaths in recent quarters.

Estimated annual population growth thus picked up to +395,100 over the year to September 2018.

There are 5 key charts below, which you can click on to expand:

It'll get no coverage because it's not a nice round number like 25 million - a milestone passed in August last year - but remarkably the estimated resident population of Australia today has blazed along to sit above 25,306,000.

On these figures the 'apartment glut' story may become a non-issue surprisingly quickly, with apartment projects now being stalled, cancelled, or mothballed all over the shop.

Interstate moves slow

Queensland experienced very strong net interstate migration of +25,300 over the year to September 2018, as incoming residents continue to be attracted by climate, lifestyle, and affordability.

It looks as though fewer people are now leaving Perth and Adelaide for Melbourne.

At the other end of the spectrum, the Northern Territory continues to leak residents somewhat alarmingly.

This could become a painful story for the NT economy, and some incentives may need to be considered for families and workers to relocate to the Top End.

The wrap

Overall, estimated absolute annual population growth has accelerated in each of the major mainland states of New South Wales (+120,000), Victoria (+140,000), and Queensland (+86,000), while in Tasmania annual growth has picked up to +6,000.

Despite this population growth is a bit slower in the two most populous states than it was at the recent peak of Q1 2017, while Queensland is gathering some momentum from internal movements.

Estimated population growth had slumped much lower than previously believed in Western Australia by 2016, but things are now gradually picking up from the nadir.

About Pete Wargent Pete is a Chartered Accountant, Chartered Secretary and has a Financial Planning Diploma. Using a long term approach to building businesses, investing in equities, & owning a portfolio he achieved financial independence at the age of 33. Visit his blog