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Higher Immigration Numbers Push Property Prices Up

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It goes without saying that Australian economy is heavily reliant on a constant influx of immigrants.  After all Australia is a nation built by immigrants.  The post second world-war migration of Europeans to Australia resulted in major dams and seven power stations being built in the period between 1949 and 1974.
In more recent times higher immigration numbers have been translating into a property boom with major cities’ property prices surging to unprecedented levels. The current net migration levels sit at around 200,000 but are expected to increase in 2018-19 to 237,000.  Most of the new migrants seem to favour Melbourne and Melbourne is currently the fastest growing city in Australia with close to 1800 new arrivals per week.
The experts claim that such a high level of migration will result in housing becoming unaffordable for average Australians as the supply and demand plays a major role in the sudden surge in property prices around Australia.
On the other hand a reduction in migration numbers is absolutely not on the cards because of the Australia’s longstanding shortage of skilled labour.  Turning off the tap on migration would result in major shortages of skilled labour in most areas of employment.  If you are a migrant intending to settle and start a new life in Australia NOW is the prime time to do so.  If you are unsure how to achieve your dream click here and ask an expert.
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Guest Monday, 22 January 2018
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