Lower immigration doesn't necessarily mean lower property prices
Proposed migration cuts could slow population growth, but household formation, rising construction costs, housing scarcity and limited new supply may continue to support Australian property prices.
Slower population growth may ease some housing demand, but Australia’s chronic shortage of homes and rising construction costs could continue to underpin property values. (Image source: Lidiia/Shutterstock.com + API Magazine)
This week Liberal Opposition Leader Angus Taylor vowed to slash immigration to Australia.
He’s promising to cut net overseas migration to 100,000 per annum, where it’s recently been close to 500,000 per annum. He’s going to cut temporary visa holders by 650,000 over four years, halve the humanitarian intake to 10,000 and cap international students at 240,000 per annum. All of which means population growth, if he’s elected, will slow significantl…
