According to the Australian Bureau of Statistics, Australia has grown by over 560,000 people in the last 12 months, the highest growth we’ve had in 20 years.
“Our population growth chart looks a bit like a trampoline. So during Covid, it went down and then it’s just kind of bounced back with a vengeance,” said Grant Dusting from McCrindle.
Western Australia is leading in the population growth rate at 2.8% compared to Victoria (2.4%) and Queensland (2.3%). “A lot of that is overseas migration…WA has a lot of interstate migration as well. So people from the east seeing the promised land here in the West.”
At a population growth rate of 2.2%, Australia is growing faster than expected. “So it just means that we’re going to be reaching some of these milestones a lot quicker than has been forecast by a lot of our policymakers. With a big policy challenge being housing, which we’ve heard a lot about in the media.”
Listen to Grant Dusting’s full chat with Kirste and Dan below!