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Largest population increase ever: ABS

It is no wonder that rental markets show low vacancy and rising rents, and prices are on the imporve across Australia when you look at the record immigration and population growth numbers being achieved.Many have underestimated the power and value of these figures, but it hasn't excaped our attention for many years and we consider it to be the primary reason that Australia remains the safest property market in the word.

Australia recorded its largest annual population increase ever, according to figures released this week by the Australian Bureau of Statistics.
 
Australia grew by an estimated 307,100 people for the year ended March 2007, the largest increase since record keeping began in 1789.

The increase gave Australia an annual growth rate of 1.5 per cent (the highest rate since 1990), and brings the population to an estimated 20.9 million.

Net overseas migration contributed 54 per cent (162,600 people) to this growth, which was more than the natural increase of 46 per cent (138,100 people or 273,500 births minus 135,400 deaths).

Queensland again recorded the highest growth rate of all the states and territories, at 2.3 per cent, followed by Western Australia at 2.2 per cent, the Northern Territory 2 per cent,
Victoria and the Australian Capital Territory 1.5 per cent, South Australia and New South Wales 1 per cent and Tasmania 0.6 per cent.

Although Australia has only two components of population growth - overseas migration and natural increase - people also move between states and territories. 2006 Census results have enabled the ABS to revise interstate migration figures from September quarter 2001 to June quarter 2006.

Over the five years to June 2006, an estimated 1.87 million people moved to another state or territory. The most popular destination was Queensland which had a net gain of 160,600 people.

Tasmania (3,100) and Western Australia (2,700) also had net gains to their population.

New South Wales had a net loss of 140,500 people; South Australia lost 11,300; the Northern Territory 6,100; Victoria 5,000; and the Australian Capital Territory 3,100.

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