Australia's population has seen a significant increase, growing by 2.2% to reach 26.5 million people in the 12 months leading up to March. The primary driver behind this growth has been a surge in immigration, particularly due to the return of university students following the lifting of Covid-19 border closures.
According to the Australian Bureau of Statistics, net overseas migration accounted for 81% of this population growth, adding a total of 454,400 individuals. Inbound arrivals into Australia were up by an impressive 103%, totaling at 681,000, which was only marginally balanced by the departure of 226,600 migrants.
The ABS explained that this surge in population, coupled with low departure numbers, can be attributed to the reopening of international borders after the prolonged closure during the pandemic. Most of the returning international students are choosing to stay, resulting in very few departures. As a result, this trend is expected to be temporary, and the number of departures is predicted to increase as temporary students begin to leave in usual numbers.
Economists believe that this robust population growth is providing support to the Australian economy amidst concerns of dampened demand due to higher interest rates. However, it is also contributing to a housing shortage and driving up both house prices and rents.
During the year, there were 301,200 registered births and 192,300 deaths. The Covid-19 pandemic continues to contribute to an increased number of deaths in the country.
Among the states, Western Australia experienced the fastest growth in population, with a rise of 2.8%. This was followed by Victoria and Queensland, which saw increases of 2.4% and 2.3%, respectively. Victoria recorded the largest increase in total population, adding 161,700 people, slightly surpassing New South Wales with an addition of 156,300 people.
The population growth in Australia presents both opportunities and challenges for the country, which will need to manage the implications of this surge effectively.
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