Advertisement
Net overseas migration is undoubtedly the most significant driver of housing demand in Australia.
Australia’s population grew by 445,900 in 2024 (equivalent to a Canberra), driven by net overseas migration of 340,600.
Net overseas migration remained above the pre-pandemic peak of 315,700 in Q4 2008, accounting for 76% of total population growth.
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Advertisement