Population growth exacerbates housing crisis

GENERAL NEWS

AUSTRALIA’S population saw another boost of 0.6% over the quarter for an annual increase of more than half a million people...

According to the latest figures from the ABS, as at 30 September 2023 Australia’s population was at 26,821,557 after a quarterly increase of 172,700 people and annual growth of 2.5%...

Reflecting a natural quarterly increase of 27,400 people, which is up 9.8% or 2,500 people from the previous quarter...

With net overseas migration at 145,200 for the quarter, for an increase of 16.3% or 21,800 people from the previous quarter...

In the year ending 30 September 2023, Australia’s population grew by 659,800 people. NSW just outpaced Victoria for natural population increase, up 32,893 for...

With net overseas migration to NSW at 186,433 people and at 161,758 people to Victoria. Queensland followed with a natural increase of 23,010 and ...

While net overseas migration looks elevated, the ABS notes that Australia is still seeing the impacts of the border restrictions in place throughout the peaks of the COVID-19 pandemic...

KPMG analysis showed 20% of new arrivals over 2022-23 weren’t entering the private housing market but rather filling existing capacity in non-private dwellings...

With PEXA’s .id showing Australia’s national population is forecast to surge by 7.4 million by 2041 with two thirds of growth to be focused in Sydney, Melbourne...

At the same time, the country’s apartment market faces an ongoing struggle with imbalanced supply and demand, with an increase in skilled labour migration one of...

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