- Australia took in 340,800 new migrants in 2024
Immigration levels are soaring under Anthony Albanese with almost two-thirds of new foreigners moving to Sydney and Melbourne.
Australia took in 340,800 migrants last year – a level higher than Treasury’s Budget forecast of 335,000 net arrivals for the 2024-25 financial year and 76 per cent higher than the pre-pandemic intake of 194,000.
The new figures were released on Thursday, a day after Treasurer Jim Chalmers admitted Australia would struggle to build 1.2million more homes in the five years to 2029, to accommodate the population explosion.
‘The 1.2million homes is a very ambitious target, deliberately so,’ he told the National Press Club in Canberra.
‘And it will be hard to get there, but it’s not impossible to get there but everyone needs to do their bit.’
While immigration levels are lower than the record-high levels of 2023, the population influx from overseas migration is overwhelmingly flowing to Australia’s two biggest cities, with NSW and Victoria having to house 207,233 new overseas residents.
Sydney, Australia’s most expensive city, is so unaffordable people are leaving in droves, with 28,118 people leaving New South Wales last year for another state, new Australian Bureau of Statistics data showed.
This big exodus from NSW – as 106,730 new overseas migrants move in – is putting pressure on other states and could potentially see the GST broadened so the states and territories had more money to spend on infrastructure.
Immigration levels are soaring under Anthony Albanese with almost two-thirds of new foreigners moving to Sydney (pictured) and Melbourne
Queensland received 25,940 new residents from other states last year, having a population growth pace of 1.9 per cent – a level above the national average of 1.7 per cent.
Victoria also had a higher population growth pace of 1.9 per cent with only 3,203 people leaving for another state as 100,503 new migrants moved in, mainly to Melbourne.
Western Australia had the strongest population growth of 2.4 per cent as 12,612 people from other states and 45,124 people moved in from overseas.
Chalmers on Wednesday ruled out broadening the 10 per cent GST so the Commonwealth Grants Commission could distribute more funds to the states and territories.
‘What I’m going to try and do – because I know the states will have a view on it, I’m going to try not to dismiss every idea that I know that people will bring to the roundtable,’ he said.
‘I suspect the states will have a view about the GST – it’s not a view that I’ve been attracted to historically but I’m going to try not to get in the process of shooting ideas between now and the roundtable.
‘One of the ways that I am going to be inclusive and respectful in the lead-up to this roundtable is I suspect people will raise that question.’
