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The latest population figures show some interesting trends

The latest figures from the Australian Bureau of Statistics reveal that our population growth has slowed from its peak level of 2.2 per cent in 2008, down to just 1.6 per cent for the year to September 2010.

In fact our current growth rate is close to our 25 year average, with 345,000 new residents for the latest year. This decline is primarily due to a slow down in the temporary surge of net overseas migration that we witnessed in the past few years, with a significant drop of 36 per cent for the year to September 2010, to 185,800.

On a percentage basis Western Australia remains the leader with population growth of 2.1 per cent for the current year, Queensland came in second at 1.8 per cent, followed by Victoria and the ACT both on 1.7 per cent, NSW and the NT on 1.3 per cent, South Australia with 1.1 per cent and finally Tasmania at just 0.8 per cent.

However when looking at numbers more carefully for the ninth year in a row Melbourne, which grew by 79,000 people in the year to June 2010 had the biggest growth of any city in.

Since 2001, Melbourne has added 605,000 new residents; Sydney grew by 447,000 people, Brisbane by 380,000 and 303,000 people moved to Perth.

First time in 30 years, Melbourne’s population is within 500,000 of Sydney’s, and gaining.

If the growth rates of 2001-10 continue, Melbourne will overtake Sydney in 2028, when each city would have roughly 5.6 million people. Currently the population of Sydney is 4.575 million people and Melbourne has 4.077 million residents.



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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 his opinions are regularly featured in the media. Visit Metropole.com.au


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