On Wednesday, global real estate services and investment firm, CBRE, published the below chart in The AFR showing that Australia’s population will grow by a whopping 13.8% between 2021 and 2030:
That is easily the fastest rate of growth out of the nation’s surveyed by CBRE.
CBRE then noted that “Australia’s surge in migration is creating an increased appetite for all types of commercial real estate, from retail to logistics – and even to offices”.
It also noted that the increased demand for space will push up rents by “high single digits” this year and “extend the boom”.
This is because population growth is “one of the biggest drivers of vacancy and rental growth in both commercial and residential property” and fundamental to real estate performance.
In a separate CBRE report looking at growth prospects for Australia’s retail sector, CBRE noted the following:
“Australia has the second highest population growth rates of the developed world in the coming decade (+15.3% or 4.43 million people between 2023 and 2033)”.
“This will drive significant demand for housing”.
To put that 4.43 million population growth into perspective, it is the equivalent to adding another Brisbane (2.6 million), Adelaide (1.4 million), Hobart (252,000) and Darwin (150,000) to Australia’s current population in only 10 years!
Blind Freddy can see that providing housing and infrastructure to accommodate this volume of people will be an impossible task, especially when state governments are already drowning in debt and the building industry is suffering widespread collapses.
The only outcome from the Albanese Government’s extreme immigration policy is crush-loaded cities, overcrowded housing, soaring rental costs, and rising homelessness.
Australia’s housing and infrastructure problems are really an excessive immigration problem.
