Australia's population grew by 306,000 people through overseas migration in the 2024-25 financial year, according to data by the Australian Bureau of Statistics.
However, net overseas migration fell for the second year in a row, dropping by 124,000 people from the 538,000 peak recorded in 2022-23.
Jenny Dobak, ABS head of migration statistics, said the decline was driven by a 14% decrease in migrant arrivals—particularly among temporary visa holders—and a 13% rise in migrant departures.
"While net overseas migration has yet to return to pre-pandemic levels, this year’s figures are the closest to pre-COVID-19 numbers since the peak in the September quarter of 2023," she added.
There were 568,000 migrant arrivals in 2024-25, with almost two-thirds on temporary visas.