The truth about Australia’s housing crisis

Monday 23 June 2025

The ABS released its official population data for Q4 2024, which showed that both immigration and population growth continue to ease back from record highs.

In Q4 2024, Australia’s population grew by 91,100, down from 121,600 in the same quarter the year before.

Net overseas migration (NOM) of 68,000, down from 99,500 in Q4 2023, drove the population growth.

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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.