She said the low departures and large inflows represented a catch-up after the pandemic’s international border closure,with most of the increase due to students returning to complete their studies. The effect was likely to be short-lived as temporary students finished courses and left.
Victoria,which islosing a federal electorate because of its population drop during the lockdown years,added a nation-leading 161,700 people over the past year. In percentage terms,the fastest-growing part of the country is Western Australia,where the population has swelled by 2.8 per cent.
Outside of migration,the figures also confirmed the ongoing impact of COVID-19 on births and deaths.
There was a small lift in births through late 2021 and early last year,but that baby boom has now ended. The number of births,at 301,200,was 3.4 per cent down on the previous 12-month period.
Deaths rose by 7.9 per cent to a record of 192,300 through the year,with the ABS noting that COVID-19 was still contributing to an increased number of deaths. In the March quarter alone,almost 45,500 Australians died,a 16 per cent jump on the same quarter in 2021.
CommSec chief equities economist Craig James said the natural increase in Australia’s population was at its slowest rate on record.
Loading
He said more people meant demand for jobs,housing,transport and infrastructure would remain strong,while many migrants were being put to work in construction. The strong lift in migrant numbers was supporting the economy.
“The old adage is that ‘population is power’. In other words,if population is increasing,it has scope to raise plenty of boats. That is,if the population is planned,” he said.
“We can’t really say that the Aussie population boost has been planned. The doors were shut over the COVID period and then flung open.”
This week,the conservative Institute of Public Affairs think tank warned property prices and rents would continue to climb and the nation’s social infrastructure such as schools would struggle to cope because of the government’s “unplanned” surge in migration.
On Thursday,the federal government’s $10 billionHousing Australia Future Fund was finally made law by the federal parliament.
Housing Minister Julie Collins said the fund,on top of the government’s other policies to boost the nation’s housing stock and overhaul the migration system,would help meet the target of building 1.2 million homes by the end of the decade.