Record, Unplanned Migration Intake Responsible For Stealing The Australian Dream Of Home Ownership

Written by:
31 March 2024
Record, Unplanned Migration Intake Responsible For Stealing The Australian Dream Of Home Ownership - Featured image

“The federal government has failed to rein in its unplanned, out-of-control mass migration program, with unprecedented housing shortages now a reality for millions of Australians nationwide” said Dr Kevin You, Senior Research Fellow at the Institute of Public Affairs.

Today, the IPA released new research revealing the impact of unplanned, record Net Overseas Migration on Australia’s ever-worsening housing shortage. Analysis of data from the National Housing Finance and Investment Corporation and the Australian Bureau of Statistics has established;

  • In FY 2022-23, there were approximately 380,000 more new arrivals from overseas than new homes built.
  • In FY 2022-23, nationwide net dwelling supply totalled just 148,600, while Australia’s Net Overseas Migration intake was 528,392 persons.
    • Even accounting for the average household size of 2.5 people per dwelling, the demand for housing generated by Net Overseas Migration was 211,357.
    • It means housing demand generated by this record intake outstripped the supply of new homes by over 62,500.

“The federal government’s out-of-control migration program is cruel and impacts new arrivals, and Australians, who cannot afford to buy a house or pay ever increasing rents alike,” said Dr You.

“This is an own-goal, entirely of the federal government’s own making; it controls the intake. If you allow record numbers of new arrivals into the nation without a plan to house them, then you are setting up Australia for a social disaster.”

In addition, IPA analysis of the ABS data shows 90 per cent of ABS SA4 regions (78 out of 88) across Australia had fewer new houses built than new migrants arrive in them. This was also the case in:

  • Every Sydney metropolitan ABS SA4 local area.
  • Every Queensland ABS SA4 local area.
  • Every Melbourne metropolitan ABS SA4 local area.
  • Every Western Australia ABS SA4 local area.
  • Every metropolitan South Australia ABS SA4 local area.

“Home ownership is foundational to the Australian way of life. Every Australian who works hard deserves to own a home. But the government’s unplanned migration program is destroying the dream of home ownership for millions of Australians, including for new arrivals,” said Dr You.

“Australians are getting left behind. For the first time in 40 years, per capita GDP has fallen for four consecutive quarters. At an individual level we are in a recession. The federal government’s lazy, short-sighted migration strategy is making it harder for Australians to get ahead at a time of acute cost of living pressures.”

“Migration has played a critical role in our national story, and it should continue to do so into the future. However, unplanned and out-of-control intakes will fundamentally erode long-term community support for our migration program. This threatens the social cohesion generations of Australians have enjoyed,” said Dr You.

To download the IPA’s research click here.

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