The population of Australia’s capital cities surged by more than 500,000 in the fiscal year ending June 2023, marking the highest annual growth ever recorded, the latest ABS figures showed.
“Australia’s capital cities grew by a record 517,200 people last financial year, with this growth largely driven by net overseas migration,” Beidar Cho (pictured above), ABS’ head of demography, said in a news release.
Melbourne and Sydney led the growth with increases of 167,500 and 146,700 respectively, followed by Perth and Brisbane, each adding more than 80,000 residents. Adelaide also saw significant growth, with all five cities experiencing their largest annual population increases since records began in 1971.
See LinkedIn post here.
The overall growth rate for capital cities was 3%, significantly outpacing the 1.4% growth in regional Australia. Perth recorded the highest growth rate at 3.6%, with Melbourne (3.3%) and Brisbane (3.1%) also seeing substantial increases.
Outer suburban areas in the capitals witnessed the most significant population gains, attributed mainly to net internal migration. Notable growth areas include Rockbank - Mount Cottrell in Melbourne, Marsden Park - Shanes Park in Sydney, and Boronia Heights - Park Ridge in Brisbane.
Beyond the capitals, Queensland’s Caloundra West - Baringa and Landsborough (both up by 1,700), along with Victoria's Barwon Heads - Armstrong Creek and Delacombe (both up by 1,000), were among the fastest-growing regions in 2022-23, ABS reported.
For more details, read "Regional population, 2022-23 financial year".
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.