Economists: Rebooting immigration will destroy housing affordability

Economists have warned that rebooting immigration back to pre-COVID levels will inflate property prices and rents, exacerbating Australia’s housing affordability woes:

Economists say about one extra home is required for every three migrants.

If Australia’s annual immigration intake lifts, beyond federal budget forecasts, to reach about 250,000 people in 2023, that would turn predictions of house price falls into price gains.

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