A recent study reveals that Australia’s population growth is largely concentrated in two main capitals.
The study by Michael Matusik has shown that despite national population growth trends slowing, growth continues largely within NSW and VIC.
At a glance;
23,581,000 people live in Australia. From last year, the population has increased by some 355,000, equating to an annual growth rate of 1.5%. This rate of growth is slowing over time, as seen below.
The growth that we have had has largely taken place is four states, but the majority of which has fallen within NSW and VIC.
Currently, our capitals capture about 80% of today’s population growth. For example, Brisbane attracts 50% of all growth in Queensland, or 75% if you include both the Gold Coast & Sunshine Coast.
Melbourne accounts for roughly 90% of all growth in Victoria, whilst Sydney accounts for over 80% of growth in NSW.
Is this the beginning of a decline of growth in regional Australia?
Australia’s national population growth, despite slowing over the past year, remains very strong. Not many countries, particularly in the West, have grown by over 1% per annum. As long as the Government adequately accounts for this growth, and provides the right infrastructure and services to facilitate this growth, then things should turn out alright!