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Growth breaks records

Capital city growth was the highest on record last year, according to new data released this week by the Australian Bureau of Statistics (ABS).

The figures show that the population of Australia’s capital cities grew by a record 517,200 people in the year ending June 2023, with the growth largely driven by net overseas migration.

Melbourne (up 167,500) and Sydney (up 146,700) had the biggest increase in 2022-23, with Perth and Brisbane each also adding over 80,000 people. Along with Adelaide (28,100), these five cities had their largest annual population growth since the start of the series in 1971.

The growth rate for the combined capitals was 3.0%, more than double the growth rate for regional Australia (1.4%).

Perth had the highest growth rate (3.6%), followed by Melbourne (3.3%) and Brisbane (3.1%).

About Adam Nobel

CEO | Principal
M. Bus, Grad Dip Adv, B.Int Bus, LREA


0417 007 001

Adam is the founder and Principal of Hugo Alexander Property Group. With a previous career in advertising, 22 years experience in property investment, and 16 years in Brisbane real estate, he knows the market inside out to ensure his clients grow their wealth faster.

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