Last week’s population data for the June quarter showed that Queensland continues to dominate the nation’s population growth driven by strong internal migration from New South Wales and Victoria.
Over the June quarter, Queensland gained a nation high 26,000 people:
And since the pandemic began, Queensland added 159,600 people, more than double second-placed Western Australia (74,000):
As shown in the next chart, the surge in Queensland’s population growth has been fueled by net internal migration, with Queensland gaining a record high 55,400 people from other states (primarily New South Wales and Victoria) in the 2021-22 financial year:
By contrast, New South Wales and Victoria lost 43,500 and 17,200 people respectively to other states (read Queensland) over the financial year.
Queensland’s strong population growth is a key reason why Brisbane has led rental growth over the pandemic, with house and unit rents soaring 13.4% and 14.3% respectively in the year to November, according to CoreLogic:
We’re all Queenslanders now.
