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The ABS today released its National, State and Territory Population data for the December quarter 2024, covering births, deaths and migration.
“Population growth was driven by a net inflow of 340,800 overseas migrants, well above the average annual net inflow of around 220,000 overseas arrivals last decade,” added Mr Devitt.
“Within Australia, people are continuing to leave New South Wales, and to a lesser extent Victoria and the smallest jurisdictions, and head into Queensland and Western Australia.
“But even the jurisdictions losing residents interstate are absorbing enough overseas arrivals to see their populations expand.
“Victoria just passed 7 million residents at the end of last year, while Western Australia passed 3 million for the first time.
“Perversely, at the same time that the Australian government is stimulating demand for homes through strong migration, state governments are actively undermining the capacity to increase supply.
“Foreign capital is highly liquid. State governments have forced institutional investors into building apartments in other countries. As a consequence, multi-unit construction volumes in Australia have halved, likely costing state governments tax revenue.
“Stimulating housing demand at a federal level through record inflows of overseas arrivals, while simultaneously penalising those who finance housing supply at a state level, has been one of the worst policy own goals in recent Australian history.
“The Government has not balanced the goal of stable and reliable migration pathways with the removal of restrictions on new home building necessary to meet demand,” concluded Mr Devitt
Across the different states and territories, Western Australia saw the strongest annual growth in population, up by 2.4 per cent, followed by Victoria and Queensland (+1.9 per cent), the Australian Capital Territory (+1.4 per cent), New South Wales (+1.3 per cent), the Northern Territory (+1.2 per cent), South Australia (+1.1 per cent) and Tasmania (+0.3 per cent).
HIA is calling on the Federal Government to act urgently to support Australia’s building product manufacturers and suppliers, an industry worth more than $130 billion and critical to the delivery of new housing across the country,” HIA Managing Director, Jocelyn Martin said today.
With the delay to decisions on the content of NCC 2025, the ABCB has published a further amendment to the current NCC 2022 which applies from 29 July 2025. The purpose of this minor amendment is to align the NCC with recent changes to the Premises Standards which apply to Class 3 to 9 public buildings, common areas of Class 2 apartment buildings and short-term accommodation
“HIA alongside a group of construction leaders and Standards Australia came together today at Parliament House, to present a united front in getting easier access to Australian Standards in the hands of those who need them most,” said HIA Managing Director, Jocelyn Martin.
HIA has made a comprehensive suite of submissions to the Productivity Commission ahead of the upcoming Treasurer’s Economic Reform Roundtable on 19-21 August.