See below a great article on the up to date interstate and overseas migration figures which is one of the key statistics that we look at before investing in hot spot growth areas. Looking then specifically at what suburbs and towns are experiencing these increases and why is then critical before zoning in on things like median prices, infrastructure, walk scores and schools.
More people moving to Victoria – ABS
By Martin North | March 24, 2016 | Social Trends
Victoria is the most popular destination for people moving from other states. It is also Australia’s fastest growing state at 1.7 per cent, compared to an overall Australian growth rate of 1.3 per cent, according to figures released by the Australian Bureau of Statistics (ABS) today.
ABS Director of Demography, Beidar Cho said that over the year to September 2015, only Victoria and Queensland experienced net increases from interstate migration.
“Victoria gained 11,200 people from interstate migration which is up from 8,500 people in the previous year and Queensland gained 6,900 people, which is up from 5,900 people in the previous year,” Ms Cho said.
All the other states and territories recorded net interstate migration losses with New South Wales recording the largest loss with 7,500 people despite the state growing by 102,200 people over the year ending September 2015. Victoria narrowly exceeded NSW’s growth, with an increase of 102,300 people overall.
Prior to 2010, Victoria’s proportion of Net Overseas Migration (NOM) remained steady at approximately a quarter of all NOM to Australia. This began to change after 2012 when the proportion of NOM to Victoria and New South Wales began to climb as the proportion of NOM to Western Australia and Queensland began to drop. In the year ending September 2015 New South Wales continued to receive the highest proportion of NOM at 40 per cent. Victoria increased its proportion to 33 per cent of Australia’s total whilst WA and Queensland both received around 10 per cent.
Australia’s population grew by 313,200 people (1.3 per cent) to reach 23.9 million by the end of September 2015.
Net overseas migration contributed 167,700 people to the population (7 per cent lower than the previous year), and accounted for 54 per cent of Australia’s total population growth.
Net overseas migration was the major contributor to population change in New South Wales, Victoria and South Australia.
Over the year, natural increase contributed 145,600 people to Australia’s population, made up of 298,200 births (4 per cent lower than the previous year) and 152,700 deaths (1 per cent higher than the previous year).