Yes, there has been a little weeny tiny increase in the birth rate: from the ABS website (3301.0 - Births, Australia, 2005):

"In 2005 there were 259,800 births registered in Australia, 5,500 (2.2%) more than in 2004, and the highest since 1993 (260,200). This also represented an increase of 13,400 births from the low number of births registered in 2001 (246,400 births)."

There has been a bit of speculation that this is because the Gen Xers were told to have their career first, and tended to delay having children into their 30s, whereas the GenYs believe they can have their cake and eat it too, and so have not been delaying their families in the same way the Gen Xers (as a broad group) did.

However, because Aust's population is increasing the actual number of births per woman in the popn (fertility rate) continues to decline.