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What does zero immigration mean for property?

The Australian property market has long relied on immigration to fuel its growth, and that has come to a standstill. But when the borders reopen, things could change quickly.

What does zero immigration mean for property?
Incoming passengers at Sydney Airport. Photo: Shutterstock

The Australian property market has long relied on immigration to fuel its growth, and that has come to a standstill.

Based on the latest government forecasts, the number of long-term immigrants into Australia could drop by almost 300,000 in the coming years, spelling trouble for certain areas of the Australian property market.

With the federal government predicting that immigration will fall by up to 85 per cent in the coming 12 months alone, t…