As of 2015, Melbourne has a population of 4.8 million residents. Melbourne is the fastest-growing city in Australia, and its population growth trend shows that it will overtake Sydney as Australia's most populous city. In 2013, Melbourne had a population of 4.35 million.
Demographers attribute Melbourne's population growth to the availability of affordable housing due to the city's opening of huge spaces of land. As Sydney, which is currently the largest city in Australia, has become more expensive, lower-income people have begun moving elsewhere. Population projections estimate that Melbourne will become Australia's most populous city, with a population of 8 million, by 2053.