Australia’s population only marginally increased in 2020, primarily due to the impact of international border closures on overseas migration.
Australian Bureau of Statistics’ (ABS) data showed Australia’s population grew by just 0.14 per cent (35,700 people) to 25.7 million.
This is in contrast to the 1.5 per cent growth recorded in the 2019 calendar year.
It was the slowest growth rate recorded in more than 100 years, according to Housing Industry Association (HIA) senior economist Nick Ward.
“Population growth has slowed as net overseas migration, previously a source of growth, has reversed and turned negative,” Mr Ward said.
He noted the sharpest decline in residential population could be seen in Victoria, which has significantly impacted the state’s rental market.
“The population contracted by 0.64 per cent. The number of people departing Victoria for other states and overseas is more than double the natural population growth over the past year,” Mr Ward said.
“All other jurisdictions maintained positive population growth, albeit at just a fraction of their pre-COVID rate of growth.
The loss of population growth is a concern for a number of reasons. Population growth is a key driver of economic growth, Mr Ward continued.
“Australia needs economic growth to maintain the standard of living all Australians expect. Growth supports the ability of governments to deliver the services and support Australians need and expect.”
Prior to international border closures, the average net migrant was 24-years-old and the average Australian resident was 39-years-old.
“Australians aged 65 years and over make up more than 16 per cent of the population. This share is rising,” Mr Ward said.
“The loss of overseas students and skilled migration has almost certainly seen the average age of migrants increase and accelerated the ageing of the Australian population.
“A return to stable and reliable skilled migration pathways is central to a return to stable economic growth,” Mr Ward concluded.
There were 293,500 births and 162,500 deaths in Australia during this period, according to Yahoo! News.
Population growth rates:
- Australia’s population rose 0.14 per cent to 25,704,340
- Queensland‘s population rose 0.85 per cent to 5,206,400
- Western Australia‘s population rose 0.57 per cent to 2,675,797
- Northern Territory’s population rose 0.48 per cent
- ACT‘s population rose 0.39 per cent to 247,023
- Tasmania‘s population rose 0.39 per cent to 541,965
- South Australia‘s population rose 15 per cent to 1,771,703
- New South Wales‘ population rose 0.14 per cent to 8,176,368
- Victoria‘s population declined 0.64 per cent to 6,648,564
