Melbourne crowned king of jobs and growth

Melbourne crowned king of jobs and growth
Melbourne crowned king of jobs and growth

Interstate migration to Queensland is picking up again as expected as folks head north from crowded and pricey Sydney, but it was the record interstate migration to Victoria which really shot the lights out over the year to September. 

The driver of this is clear, since Victoria alone has been creating almost all of Australia's jobs lately.

Click to enlarge

Melbourne crowned king of jobs and growth

Net overseas migration also accelerated into Sydney, Melbourne, and south east Queensland.

Click to enlarge
Melbourne crowned king of jobs and growth

As a result the most populous states are mopping up a huge share of population growth, with New South Wales and Victoria alone accounting for 68 percent of the population increase, and Queensland a further 19 percent. 
 

Melbourne crowned king of jobs and growth

Absolute population growth increased to 67,700 in Queensland and a massive 109,600 in New South Wales - mainly into Greater Sydney - but Victoria is breaking demographic records not seen since the gold rush, with the total population exploding 127,500 higher over the year to September. 
 
 
Melbourne crowned king of jobs and growth

Here are those same numbers looked at over the past three years, with South Australia and Western Australia losing momentum, and the largest capital cities gaining population growth at their expense. 
 

Melbourne crowned king of jobs and growth
 
The massive headcount growth into Melbourne in particular explains why residential housing vacancy rates have been falling, close to a decade low at the last count.

Despite many new tower blocks adorning the skyline, a record supply of small apartments has only partially absorbed a vast surge in migration to the Victorian capital.
 

PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.

His latest book is Four Green Houses and a Red Hotel.

Pete Wargent

Pete Wargent

Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.

Tags: 
Melbourne Migration

Community Discussion

Be the first one to comment on this article
What would you like to say about this project?