The Australian Bureau of Statistics released the latest quarterly figures on Thursday, showing an annual population growth rate of 1.5 per cent, the equivalent of 412,500 people. Australia’s population grew by 412,000 people in 2025, the latest figures show, nearly three-quarters of which was due to overseas net migration.
Victoria welcomed 156,000 international migrants as 71,500 people departed. Net overseas migration also fell 35 per cent in the final three months of 2025 compared with the July-September period. On annual terms, net overseas migration was 8.9 per cent lower than 2024 – a 29,500 net decrease.
“Migration was surging when we came to office and it has now moderated substantially,” Treasurer Jim Chalmers said. “It was already down 45 per cent since its peak and is lower again today. Today’s number came in at 301,000 through the year to December, down on the previous quarter. The facts clearly show that net overseas migration is coming down under Labor and the Treasury is forecasting it to go even lower in the coming years.”