Australia’s population grew by an extraordinary 8.5 million (45%) over the first 25 years of this century, far exceeding the population growth of other advanced nations.
Over the four years from Q1 2021 to Q1 2025, Australia’s population grew by an estraordinary 1.88 million (7.9%)—equivalent to adding an Adelaide and Hobart to the nation’s population.
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AMP chief economist Shane Oliver showed how Australia’s housing market became structurally undersupplied after net overseas migration more than doubled in the mid-2000s and annual population growth jumped by 150,000 annually:
