Former managing director of residential developer Stockland, Mark Steinart, has questioned the efficacy of ramping-up immigration when Australia already has a chronic shortage of housing:
Australia’s population grew by more than 25 per cent between the 2001 and 2016 Census years, however, the nation’s stock of occupied social housing shrank by 2.5 per cent.
If nothing changes, more than 2 million Australian households on low incomes in private rentals will be in housing stress by 2051. The health, education, productivity and crime costs borne by the community as a result of this unmet housing need is estimated to reach $25 billion per year…
