Immigration surge pushes rent inflation higher

Monday, 4 December 2023

Last week, immigration influencers like Abul Rizvi were claiming that Australia has reached ‘peak migration’:

However, late last week the Department of Home Affairs released temporary visa data for October, which suggested that Australia’s net overseas migration (NOM) has continued to rise.

The below chart from Justin Fabo at Macquarie Group summarises the situation:

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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.