During surveys of the waterbirds of the Lake Bathurst wetland system on the Southern Tablelands of New South Wales, near Canberra (Australian Capital Territory) in most months from 1980 onwards, Hoary-headed Grebes Poliocephalus poliocephalus were found breeding on only six occasions. Nests were built along islands that formed only when Lake Bathurst and the neighbouring Southern Morass reached specific water depths. At higher and lower water levels, Grebes were present but did not breed. The maximum number of nests in a season was 985, much greater than any reported in the literature, but young were produced in only three seasons. Nest failures resulted from falling water levels, heavy rain (and associated rise in water level) or a wind-induced temporary rise in water level. Partial reflooding of the lake triggered late nesting, in April, but the nests were abandoned as the water level fell. High mobility, congregating at refilling wetlands and attempts to nest late in the season by this species may be responses to the ‘boom and bust’ scenario of inland wetlands. [ABSTRACT FROM AUTHOR]