All levers must be pulled to slow immigration

Tuesday’s deplorable dwelling approvals figures were greeted with the usual response from the Housing Industry Association (HIA), which screamed: “All levers must be pulled to fast-track housing”:

“There were just 163,320 building approvals for new housing in the 2023/24 financial year, the weakest financial year in over a decade”, bemoaned HIA Senior Economist Tom Devitt.

“The performance over the last year is a far cry from the 240,000 new homes the Australian Government wants to see built in each of the next five years”.

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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.