Publication Summary
Australia’s population has reached 27.4 million, as population growth continues to slow following the post-pandemic rebound. Population growth has fallen from its peak of 2.5 per cent in the year to the September quarter 2023 to be 1.7 per cent in the year to the December quarter 2024. This result was driven by a decline in net overseas migration. For the year ending December quarter 2024, the population grew by 445,900 people, with natural increase contributing 105,200 and net overseas migration contributing 340,800. Natural increase remains subdued with low births and elevated deaths post-pandemic. NOM remains elevated compared to pre-pandemic levels, largely due to lower departures, which have now begun to pick up. This reflects the relatively recent arrival of many temporary migrants, with some people seeking to extend their stay by applying for further visas. The ABS has implemented methodology changes, leading to revised estimates of state population growth rates since 2021. The changes have led to higher population estimates for the Northern Territory (up 1.8 per cent as at June 2024), the Australian Capital Territory (1.0 per cent), and Western Australia (0.4 per cent), with a downgrade to Victoria’s estimated population (0.4 per cent lower).