Queensland’s population will soar over the next five years as more than 100,000 people move there from other parts of Australia in search of a warmer climate and more affordable housing, while it lasts.
Treasury Budget documents forecast 28,500 will move to Queensland in 2023/24, while 28,200 left New South Wales during this financial year.
In five years to 2027/28, Queensland’s population was forecast to soar by 110,900, just as 111,700 left New South Wales and unaffordable Sydney for another part of Australia.
This would be happening since 1.38 million foreign immigrants, in net terms, moved to Australia in five years, a figure that includes qualified immigrants and a large influx of international students.
Queensland’s population will soar over the next five years as more than 100,000 people move there from other parts of Australia in search of a warmer climate and more affordable housing, while it lasts (pictured are swimmers in Surfers Paradise)
A record 548,800 migrants moved to Australia in the year to September, but the Treasury still forecasts admissions for 2023/24 will fall to 395,000.
Australia’s population was expected to increase to 27,378,976 by the end of 2024.
Most foreigners moving to Australia settle in Sydney and Melbourne, but only Sydney is expected to experience a large exodus, and the population decline in New South Wales reflects the rise of interstate migration in Queensland.
Brisbane’s median house price has already risen 15.9 per cent to $920,046 in the year to April, CoreLogic data showed.
With the median house price in Sydney at $1.4 million, it’s no wonder people are leaving, as the Reserve Bank’s 13 interest rate hikes since May 2022 have worsened levels. mortgage tension.
Queensland is also a state where Labor is struggling, holding just five of the 30 seats in the Sunshine State, including the seat of Rankin, based in Treasurer Jim Chalmers’ Logan, south of Brisbane.
The government also has no seats north of Brisbane, making Anthony Albanese the first Labor premier to have no lower house seats in regional Queensland.
Despite that, the Budget has promised $467 million for the Bruce Highway, a 1,673 kilometer stretch of road that does not pass through a single federal Labor electorate.
Treasury budget documents forecast 28,500 people will move to Queensland in 2023/24, while 28,200 left New South Wales during this financial year.
The funding includes $15 million for planning improvements to the Pine River Bridge on the edge of Opposition Leader Peter Dutton’s Dickson electorate.
Victoria’s population was also expected to grow, although more modestly, with 15,900 expected in five years, including 1,500 in 2023/24.
The median house price in Melbourne has grown just 3 per cent over the past year, or at a level below the wage price index.
Western Australia’s population was expected to grow by 7,000 people this financial year, but in five years, the pace of growth was expected to be only a modest 11,800, as iron ore prices declined to $60 a tonne in March 2025, below recent near-dollar levels. 100 dollars a ton.
Perth is Australia’s strongest property market, with the median house price rising 21.3 per cent to a still relatively more affordable $753,947.
South Australia’s population was expected to decline by 15,100 people over five years, including 2,000 in 2023/24.
Despite those forecasts, the median house price in Adelaide has risen 13.9 per cent to $800,648 over the past year.
Tasmania’s population was forecast to decline by 2,000 people over five years, including 2,200 in 2023/24, as the population grew by hundreds between 2025/26 and 2027/28.
The Australian Capital Territory’s population was expected to decline by 400 people over five years, including a drop of 1,300 in 2023/24, but the population was expected to grow from 2025/26 to 2027/28.
The Northern Territory was expected to have the largest per capita exodus of 9,300 people over five years.