ABS figures released today show that Australia’s population reached 23,714,272 persons at the end of the March 2015 quarter, 1.4 per cent larger than 12 months previously, said the Housing Industry Association (HIA).

“Today’s figures show that nearly 316,000 people were added to Australia’s population during the 12 months to March 2015,” said HIA economist, Diwa Hopkins.

“This rate of growth, while slower than in previous quarters, is still historically strong.”

“During the 1980s, 1990s and the first half of the 2000s, Australia’s population grew very steadily, with around 225,000 persons added to the population per year throughout that period.”

“Since that time, the number of people being added to the population has exceeded 300,000 persons per year, and this continued to be the case in the year to March 2015.”

“This continued high-volume population increase underlines the importance of delivering a commensurate supply of new dwellings in an affordable way.”

In the year to March 2015, the net overseas migration inflow of 173,054 persons accounted for more than half of the total growth in Australia’s population, while natural increase accounted for the remaining 142,898 persons added to the population during this period.

Across the states and territories, population growth in the year to March 2015 was varied, with the two major population centres, Victoria and New South Wales, recording the strongest growth rates; 1.7 per cent and 1.4 per cent, respectively. Western Australia’s population also grew at 1.4 per cent, while Queensland’s population grew by 1.3 per cent, the Australian Capital Territory’s by 1.3 per cent, South Australia’s by 0.8 per cent, Tasmania’s by 0.3 per cent and the Northern Territory’s by 0.2 per cent.