Australia’s population will hit 40 million within the next 40 years, says the ABS.
And the strongest growth rates won’t be in NSW and Victoria, despite forecasts that both their capital cities will be bulging with eight million people by 2057.
The ABS projects WA’s population to more than double in the next 40 years from 2.6 million to 6.1 million and Queensland to grow 85% to 8.9 million. NSW is projected to grow 45% to 11.2 million, Victoria 64% to 10 million and SA 35% to 2.3 million.
Social researcher Mark McCrindle says Australia’s population is being driven higher by a combination of migrants, a birth boom and a longevity boom.
He says the population growth will lift household wealth as demand for housing boosts property prices, but this will vary between cities and people without property will miss out on the wealth that growth brings.