Chris Minns lies about Sydney’s housing crisis

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Why are the Australian Labor Party such atrocious liars and gas lighters on immigration?

NSW Treasurer Daniel Mookhey’s first Budget last week warned that the state was facing an unprecedented housing crisis that was stealing the future of the state’s younger residents.

“NSW is in the midst of a fierce housing crisis”, Mookhey said in his Budget speech.

“Rents are rising. Interest rates are climbing. Home ownership rates are falling”.

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“Demand for social housing is increasing. Homelessness is worsening”.

“And the next generation fears permanent eviction from safe and secure housing”, he said.

The latest population statistics from the Australian Bureau of Statistics (ABS) showed that NSW received the highest intake of net overseas migrants in the nation’s history, with an unprecedented 153,400 net migrants landing in the state in the year to March 2023:

Net overseas migration by state

Last week, NSW Premier Chris Minns backed the Albanese Government’s mass immigration policy claiming more migrants were needed to build homes for migrants:

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“We’re supportive of the commonwealth government’s decision to lift immigration into New South Wales, notwithstanding the fact that we’ll take, not the majority but the greatest number of inbound immigrants”, Minns told the ABC’s 7.30 Report last week.

“A lot of that labour coming into the state will be directed to the housing market and we need them to build houses and apartments”.

Chris Minns took his lies to another level on Sky News:

“We desperately need people in the service industry and construction in particular, and the lack of them in the NSW economy’s adding to inflation and ironically enough, adding to the housing pressures”.

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“We can’t produce enough housing for NSW’s needs. One of the reasons for that is labour shortages”.

“So the Albanese government is looking at inbound immigration, a large number of them will be directed to the construction industry”.

“I’m hoping that that will alleviate some of the housing pressure and we can really get going with completions in NSW”.

Earth to idiot: you don’t solve a housing (rental) shortage by adding record levels of demand through immigration.

The only thing preventing the situation from being even worse is that large numbers of residents are leaving Sydney, driven out by expensive housing and the city’s declining livability via extreme immigration:

NSW population change

Sadly, lying about the housing crisis and then making the situation worse seems to be in the DNA of the Labor Party.

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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.