Australia’s national shortage of dwellings has become more critical due to record population growth, according to Hotspotting.
In 2023, the country’s population increased by 651,000, the highest in history, with 84% of that growth attributed to overseas migration.
“The record level of population growth last year did not cause the shortage of dwellings, including the under-supply of rental homes,” said Terry Ryder (pictured above), director at Hotspotting.
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Australia’s population now stands at 27 million, up 2.5% from the previous year.
Every state and territory experienced population growth, although many saw a net loss due to interstate migration.
“That very high level of population growth last year has made a serious problem more dire,” Ryder said.
Victoria experienced the highest population increase, adding 186,491 people.
Queensland had the largest net gain from interstate migration and grew by 141,378 people overall.
Western Australia saw the biggest percentage increase at 3.31%, followed by Victoria at 2.78% and Queensland at 2.62%.
“NSW made the biggest gains from overseas migrations but was the biggest net loser from internal migration,” Ryder said.
The housing shortage stems from years of inadequate government policies, which have been compounded by the recent population boom.
“The seeds of that shortage were sewn years earlier by bad government policy and have been exacerbated by bad governance every year since,” Ryder said.
This rapid population increase has exacerbated an already serious issue, highlighting the urgent need for better housing strategies.
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