The most recent data sets on birth from the Australian Bureau of Statistics showed there were 292,318 babies born in 2024, up 1.9 per cent from 2023.
However, the fertility rate, which is the number of babies born per woman, dipped to 1.481 in 2024, lower than 1.499 in 2023 and 1.795 in 2014.
The median age for mothers was 32.1 years and 33.9 years for fathers, a "slow but steady" increase since 2014.
As people choose to delay parenthood until later in life, fertility challenges can become more common leaving prospective mums and dads vulnerable to mental health challenges.
More than 100,000 new parents are diagnosed with perinatal depression and anxiety (PNDA) nationally each year, according to the Gidget Foundation which supports the mental health of expectant, new and potential parents.
Shrinking family sizes due to cost or infertility can heighten parental anxiety over their only child, Gidget Foundation chief executive Arabella Gibson told AAP.
"Parents are struggling more than ever before ... but the stigma is such that people don't want to share that they are struggling because there is a lot of shame around it," she said.
"It can be a really challenging time going through reproductive issues and there is an increase in potential parents needing support through that period."
Economic factors and the cost of living can also be attributed as a major cause of declining births.
Many Australians are having fewer children than they ideally wanted because they can't afford it, advocacy group The Parenthood chief executive Georgie Dent said.
"Starting or expanding a family has become an economic risk for many people," she said.
"If we want to give people real choice about whether to have kids, and how many to have, more paid parental leave and universal early childhood education are the key."
The cost of PNDA to the economy was at least $877 million annually and Ms Gibson said there was a huge opportunity for governments to shift this figure.
"The prevalence figures are one in five mums and one in ten dads who experience PNDA ... but it is a very treatable illness, especially if it's caught early," she said.
"We see so many people suffering from perinatal ill health for so long but if they could access mental health services we would see people getting the support they need early on and recovering quicker."
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