Brighter And some

Australia’s population added another “half Canberra” in 2023

by Kate Watt, Marketing Manager 31 January 2024

Australia’s population grew by 2.4 per cent in 2023, which sounds small.

But in real numbers that’s 624,100 people, or half the population of Canberra.

So what?

Well imagine how many houses are needed to accommodate half of all Canberrans. Yep, that’s a lot!

And construction of new dwellings is declining, so this means the housing shortage is likely to persist for a number of years to come, says Property Update.

In Queensland, our population grew by 2.6 per cent last year, or 138,500 people. That’s a growth rate second only to Victoria.

(We’re confused by that too – who would choose to move to Victoria when you could move to Queensland???)

That’s a lot of big numbers but it goes some way to explaining why house prices have continued to rise and rents have too.

More people, looking for more houses, at a time when construction is slowing and fewer people are selling their homes than usual.

So, buckle up, there may be some way to go on the price growth journey in 2024.

Want to add to Brisbane’s population? Talk to us about landlording.

Want to house a new Brisbanite? View our current listings for sale or check our listings for rent.