23 June 2011
New figures released by the Australian Bureau of Statistics today show NSW trailing the nation on population growth, yet again, according to the Urban Taskforce.
The Taskforces chief executive, Aaron Gadiel, said NSWs 1.2 per cent growth in population was in 2010 well below the nations 1.5 per cent growth.
Western Australia led the way with a 2.1 per cent increase, followed by Queensland with a 1.7 per cent increase and Victoria with a 1.6 per cent increase, Mr Gadiel said.
Of the states, only South Australia and Tasmania grew less than NSW.
Mr Gadiel said that NSWs annual rate of population growth had trailed national growth rates since the year 2000.
Its no coincidence that the states rate of economic growth has also trailed the nations for roughly the same period – since 2001, he said.
Mr Gadiel said that in 2010 NSW and South Australia were the only states to lose more existing residents to other states, than they gained.
Essentially, weve seen NSW force out 11,000 of existing residents to Queensland, Victoria, Tasmania and Western Australia, he said.
A major driver for this internal migration is a lack of housing supply, which has made housing less affordable.
As long as NSW has a desperately short supply of new homes, existing residents will be pushed interstate, and population and economic growth will remain stagnant.
The Urban Taskforce is a property development industry group, representing Australias most prominent property developers and equity financiers.
