Immigration ponzi drives lot prices through the roof

Wednesday 24 October 2018

Following on from yesterday’s post on the surge in Australian capital city lot prices to new all-time highs, The AFR has published the below chart showing the epic rise in Sydney and Melbourne lot values in the decade to 2018:

Not surprisingly, the surge in Sydney and Melbourne lot values has come alongside extreme immigration-driven population growth into both major cities, with Sydney adding 774,000 people in the nine years following the Global Financial Crisis in 2008, and Melbourne adding a whopping 965,000 people:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.