Dwelling construction plunges as migrants swarm Australia

The Australian Bureau of Statistics (ABS) has released data showing that the net number of dwellings added to the nation’s housing stock has trended lower over the past six years:

In the June quarter of 2022, just 38,500 net dwelling were added to the nation’s housing stock, down from a peak of 58,100 in the December quarter of 2016.

In the year ending 30 June 2022, Australia’s dwelling stock grew by 146,931 dwellings (1.4%). This was down sharply from the 2% growth in the dwelling stock recorded in June 2017:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

Share

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.