Fewer migrants arriving in Australia and a jump in people leaving the country has seen the nation’s population growth hit its lowest level in two years, according to new Australian Bureau of Statistics (ABS) data.

Australia’s population grew by 1.8 per cent in the year to September last year, the ABS reported, with the nation adding 484,000 residents over that period, the smallest number since the September 2022 quarter.

Australia’s population now sits at 27.3 million people.

The low population growth was the result of lower net overseas migration, which added 89,806 people to the country, the lowest September quarter result since 2021, when COVID travel restrictions were still in place.

In the past year, incoming migrant numbers have fallen by 22 per cent while the number of people leaving has risen by 22 per cent, the ABS data shows.

Natural population growth – births minus deaths – added 25,211 people in the quarter. Deaths increased to 51,600, the second-highest quarter on record.

Although births increased slightly over the quarter, the crude birth rate – the number of children born per 1000 people – continues to fall and remains at record lows.

Western Australia remains the fastest growing state at 2.5 per cent over the past year, with its population at almost three million.

Victoria’s population growth slowed to 2.1 per cent, with the state home to more than seven million people for the first time.

During the COVID 19 pandemic, Victoria lost more than 35,600 residents to other parts of the country, but this has been reversed with the state adding 882 residents from other states and territories over the past 12 months.

NSW’s population went past 8.5 million, its growth rate easing to 1.4 per cent. It lost 29,505 people to other states and territories, while Queensland’s population has grown to 5.6 million in part due to an extra 28,201 people from the rest of the nation.

Population growth, and its effect on housing and infrastructure, will be a key issue in upcoming federal election campaign, with both sides of politics vowing to reduce migration.

The new data also shows the job market may beginning to soften, suggesting the Reserve Bank may make further interest rate cuts.

Over the first two months of the year, total employment is down by more than 22,000 positions.

In the June and September quarters, a total 274,500 migrants came into Australia, a 25 per cent fall on the record 366,500 set for the same period.

See the ABS data here: National, state and territory population, September 2024 | Australian Bureau of Statistics