Property Council: Mass immigration overrunning housing supply


The Property Council has released a new report, entitled A Stark Reality, which admits that the bipartisan ‘Big Australia’ mass immigration policy has well and truly overrun Australia’s housing supply, resulting in reduced living standards for Australians:

While COVID-19 disrupted migration and housing markets with a drift to regional centres, we have a long-term growth trajectory with population predicted to rise to 39.2 million by 2060, meaning 13 million more people will call Australia home.

The latest Population Statement also projects capital cities and regional areas will return to pre-pandemic levels of population growth. This growth is underpinned by a lift to the annual migration cap to 195,000 for 2022-23 and a focus on skilled workers to address critical labour shortages.

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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.