“New ABS data confirms the federal government’s massive unplanned migration surge continues unabated. It is sending our economy backwards and risks further undermining social cohesion,” said Daniel Wild, Deputy Executive Director of the Institute of Public Affairs.
The IPA’s analysis of the Australian Bureau of Statistics’ new data on long term and permanent arrivals and departures has established: (charts over page)
- In the 2023-24 financial year, a total of 1.1 million new migrants entered Australia, which is the highest in recorded history, and is the second year in a row where more than one million migrants have entered the country.
- Net permanent and long-term arrivals for the 2023-24 financial year was also the highest in recorded history, at 469,140.
- Australia’s out-of-control migration intake outstripped the required construction of new dwellings and led to an immediate shortfall of over 24,000 homes last financial year, when considered on the average sized household basis of 2.5 persons.
- The number of net migrants has by far outstripped housing approvals. Dwelling approvals in the financial year ending 2024 added up to 163,317 units. This means there were some 305,000 more net migrants than new dwellings approved.
“Net arrivals and departures data is a leading indicator of the net overseas migration data, and no matter which way you look at it, the federal government has broken its promise to Australians to rein in out-of-control migration,” said Mr Wild.
“The out-of-control migration intake is a key driver in Australia’s housing and inflation crisis. It is placing unsustainable pressure on our current social and economic infrastructure, has not solved worker shortages, and is leaving Australians worse off.”
“Australia has and always will be a welcoming country, but the federal government is setting Australia up for economic and social failure. With no plan on how to provide housing and critical social services for new arrivals and first home buyers alike, it is a recipe for disaster,” said Mr Wild.
Previous research by the IPA revealed the Australian economy has undergone a fundamental shift from sustainable, productivity-led growth to population-led growth. Throughout the 1990s, population growth only accounted for one third of total economic growth. In 2023, population growth accounted for 85 per cent of total economic growth.
“Today, Australians are in an unprecedented per capita recession. Coupled with the federal government’s addiction to economic growth driven primarily by out-of-control migration, it is making living standards worse,” said Mr Wild.
“Every day, mainstream Australians are feeling the hip pocket pain caused by the federal government’s lazy, migration-driven growth agenda. While the overall size of the economic pie may be growing, Australians are getting an ever-smaller slice.”
To download the IPA’s previous research click here.
