Migration leading indicator surges higher

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In February, on ABC’s Q&A, Prime Minister Anthony Albanese stated that the government was cutting immigration and relieving pressure on the housing market by reducing international student numbers.

Albanese noted that the student visa system was being “abused”.

This week, we learned that international student enrolments hit a record high of 839,200 in the year to June 2025.

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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.