Last week’s demographic data from the Australian Bureau of Statistics (ABS) highlighted the impossibility of ‘solving’ Australia’s housing crisis amid record immigration-driven population growth.
As shown in the next chart, Australia’s population soared by a record 497,000 in calendar year 2022, off record net overseas migration (NOM) of 387,000:
This means that Australia’s population grew by 1,361 people per day last year, driven by NOM of 1,060 per day.
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