The biggest one-year jump in Australia’s population, fuelled by a record 518,100 new migrants calling the country home, has prompted warnings that the nation’s rental market will remain under pressure for years amid signs inflation is driving more people to regional areas.
The biggest one-year jump in Australia ’s population, fuelled by a record 518,100 new migrants calling the country home, has prompted warnings that the nation’s rental market will remain under pressure for years amid signs inflation is driving more people to regional areas . The population swelled by 624,100 through 2022-23, more than 1700 people a day, with 80 per cent of the extra residents absorbed across Victoria, NSW, Canberra and Queensland.
According to the Australian Bureau of Statistics, Victoria’s population grew by more than 181,000 to 6.8 million while NSW added 172,600, taking its total number of residents beyond 8.3 million. Most migrants moved to four states: NSW took in 174,200, Victoria added 154,250, Queensland gained almost 84,000 while the fastest growing part of the Commonwealth, Western Australia, accepted 61,600. The bureau noted temporary visa holders such as international students were the main contributor to the high net migration level, with the number of people leaving the country not yet back to pre-pandemic level
Australia Population Migrants Rental Market Inflation Regional Areas
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