Generation Z demographics show the full results of Australia’s declining fertility rates of the last few decades. However, the total fertility rate bottomed out at 1.77 (children per woman) in 2001 and the total births have increased every year since then, hitting new all-time records from 2006 with the TFR rising to 1.81. This mini-baby boom followed Peter Costello’s urging of Australian couples to ‘have one for mum, one for dad and one for the country’ – and the promise of a $3000 baby bonus in 2004! Prior to the mini-baby boom, the government actually increased the baby bonus from $3000 to $4000 and today it stands at $5000. Australia’s TFR now stands at a relatively high 2.0 babies per woman (nearly back to replacement rates!).
Australia is experiencing both an ageing population and a baby boom, with over 300,000 babies born in the last year. Since 1966 Australia’s population has doubled and is now growing by a new Canberra every year. Not only is the population growing, but our households are changing. The nuclear family (parents and children) is still the most common household form (33% of all households), however within a few years, the couple only household will be the most common and with our ageing population, the lone person household has been the fastest growing.