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RP Data - Population Growth & Housing (June 2013)

RP Data - Population Growth & Housing (June 2013)

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Published by: leithvanonselen on Jun 27, 2013
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07/10/2013

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 According to the Australian Bureau of Statistics (ABS),
 Australia’s
populationgrew to record 22.9 million people now living in the country at the end of 2012.The growth was driven by strong net overseas migration which accounts for 60%of the total population growth. A record number of births added to the annual tally.RP data national research director Tim Lawless said that this figure now equatesto an increase in
 Australia’s
national annual population growth of 1.75 per cent over the December 2012 
.
While the Australian Bureau of Statistics (ABS) recorded 22.9 millionresidents at the end of last year, Mr Lawless said that a more recentestimate of the current population can be seen in the ABS PopulationClock which is currently indicating a national population of 23.094million residents.Victoria trumped as the state to record the highest levels of populationgrowth across the
country’s
states and territories for the 2012 calendar year where an additional 99,548 residents now reside in the state.Overseas migration accounted for 56.4 per cent of the
state’s
growth,however, a larger than average proportion of 
Victoria’s
populationgrowth was from natural increase (41.8%), while a very small proportioncan be attributed to interstate migration flows (1.7%).Queensland recorded the second largest number of new residents at92,453, followed by New South Wales where there were 90,441 moreresidents over the year. According to Mr Lawless, the contributing components of populationgrowth were quite different between Queensland and New South Wales.
“While
both states are sourcing the majority of their population growthvia overseas migrants, Queensland has historically recorded asubstantial net interstate migrant inflow; last year 11,354 net newresidents moved to Queensland from other Australian states while NewSouth Wales lost a net 17,761 residents to other states.
“In
raw numbers, Western Australia recorded the fourth largest number of new residents (+83,031) but was the state to record the fastest rate of population growth by quite a wide
margin,”
Mr Lawless said. At almost twice the pace of the national average, Western
 Australia’s
 population increased by 3.5 per cent over the 2012 calendar year andhas attracted the third largest number of net overseas migrants with52,306 new permanent or long term residents moving to Western Australia over the calendar year.The Australian Capital Territory (ACT) also recorded a rapid rate of population growth, up 2.3 per cent over the 2012 calendar year; thesecond fastest growth rate of any state or territory. Mr Lawless said,
“With
the impending election and possible cuts to the FederalGovernment labour force, we would presume this rate of populationgrowth is likely to slow during 2013.
 Tasmania and South Australia recorded the least amount of populationpopulation growth, up by 0.9 per cent and 0.1 per cent respectively.
“Interstate
migration has been a drain on both states with a net 2,650
Tasmanian’s
moving to another state or territory and 3,345 net South Australians moving interstate over the
year,”
Mr Lawless said.Nationally,
 Australia’s
population growth is comprised of the net rate of overseas migration plus the rate of natural increase that is births minusdeaths. Overseas migration is the most significant contributor topopulation growth, equating to 60 per cent of national populationgrowth. The rate of natural increase has seen a substantial rise due toa large number of new births and a decline in the number of deaths over the year. There were 305,400 births in Australia over the past twelvemonths, the largest number on record.
Population growth equates to demand for more housing -
RP
Data’s Tim Lawless reports onthe ABS findings in today’s weekly Property Pulse.
 
DISCLAIMER
In compiling this publication, rpdata.com has relied upon information supplied by a number of external sources and RP Data does not warrant its accuracy or completeness. To the full extent allowed by law RP Dataexcludes all liability for any loss or damage suffered by any person or body corporate arising from or in connection with the supply or use of any part of the information in this publication. RP Data recommends that individuals undertaketheir own research and seek independent financial advice before making any decisions. © 2012 RP Data Ltd.
Components of national population growthAnnual population growth, NationalAnnual change in naturalincrease (births minus deaths)Annual change in netoverseas migrationAnnual population growth & components, States & TerritoriesSpeed of annual population growth, States and TerritoriesMagnitude of annual population growth, States and Territories
National Media Release 
RP Data Weekly Property Pulse 
 
Released: Thursday 27 June 2013

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