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The Economy

Magaoidh said:
I don’t think it’s the mum/dad investor mate….it’s those other bastards!
Click to expand...
You have a point but mum/dad investors are getting a bad rap as well as ones with a lot of properties. Now I agree with you that I do not like filthy rich investors that have lots of properties, but the fact is that we need those people. If one filthy rich person decides to sell up you might have say, 10 properties off the rental market making it worse for those left over. Add to this the ridiculous amount of people coming into the country and you have a recipe for disaster.
 
They all have to be housed, the govt is fudging growth figure with mass immigration, ie the only way they can grow is through mass immigration, few new roads hospitals or dams but lots more people, if only we had a referendum on this.
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Overseas Migration​

Latest releaseData download
Statistics on Australia's international migration, by state and territory, country of birth, visa, age and sex.
Reference period
2022-23 financial year
Released
15/12/2023
Future releases
Previous releases

Key statistics​

  • Overseas migration 2022-23 – net annual gain of 518,000 people
  • Migrant arrivals increased 73% to 737,000 from 427,000 arrivals a year ago
  • Largest group of migrant arrivals was temporary visa holders with 554,000 people
  • Migrant departures decreased 2% to 219,000 from 223,000 departures a year ago.
The data presented in this release are annual, for years ending 30 June unless otherwise noted. For the latest quarterly migration estimates, see the ABS publication National, state and territory population. For Australia's regional overseas migration estimates, see the ABS publication Regional population.##

www.abs.gov.au

Overseas Migration, 2022-23 financial year

Statistics on Australia's international migration, by state and territory, country of birth, visa, age and sex.
www.abs.gov.au www.abs.gov.au
 
Governments for decades (probably centuries) have relied on immigration because it boosts the economy and provides a steady stream of workers that enables businesses to expand rapidly when needed. It will be a brave government that is prepared to bite the bullet and take the economic hit.

Of course immigration does nothing for housing affordability.
 
It could be argued that speculators are the reason for inflated housing prices!
My wife and I are secure,when I see these house auctions I shudder to equate what has happened and young people being blown away.by greed is good!
Even when we get fair minded govt.they don’t seem to be able to control rampant inflation?
Pathetic.
 
chelseabree said:
Immigration is great if done in a targeted slow way so the society can absorb the people. What Albo is doing is lunacy.
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It's been massive last year but the two prior years were very low due to Covid.
There's a graph here showing levels for past few years. They slightly increased in coalition years prior to covid so it's not just Albo. As you can see the Abbott/Turnbull/Morrison years ('13-'22) were pro immigration.
Graph 1.2 Overseas migrant arrivals - visa and citizenship groups(a).jpeg
www.abs.gov.au

Overseas Migration, 2022-23 financial year

Statistics on Australia's international migration, by state and territory, country of birth, visa, age and sex.
www.abs.gov.au www.abs.gov.au
 
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No matter how many houses a person buys if it was not for high immigration there would be less demand for those houses bought leading to more competition to get tenants meaning cheaper rents and poorer returns for investors meaning lower home prices, atm its a double banger bonanza for investors, rising prices and huge demand for a rental home, its all about the immigration...
 
andyrabbit said:
It's been massive last year but the two prior years were very low due to Covid.
There's a graph here showing levels for past few years. They slightly increased in coalition years prior to covid so it's not just Albo. As you can see the Abbott/Turnbull/Morrison years ('13-'22) were pro immigration.
View attachment 2179
www.abs.gov.au

Overseas Migration, 2022-23 financial year

Statistics on Australia's international migration, by state and territory, country of birth, visa, age and sex.
www.abs.gov.au www.abs.gov.au
Click to expand...
This is a very interesting chart thanks. So immigration was fairly steady ( except for Covid as you say obviously) and this monster jump under Albo. Far too high with problems with rents. I presume the temporary visa ones were a jump in students.
 
chelseabree said:
This is a very interesting chart thanks. So immigration was fairly steady ( except for Covid as you say obviously) and this monster jump under Albo. Far too high with problems with rents. I presume the temporary visa ones were a jump in students.
Click to expand...
The monster jump under Albo was a response to the low numbers in the two previous years, so it probably evens out, although I haven't done the numbers. It will be interesting to see what the numbers are this year. Something needs to be done, although lower numbers will effect the economy.
 
The student visa system and the 457 migrant worker scheme need overhauling, so many students coming here doing cooking courses ect, they all need to be housed, those students are then free to apply for permanent residency , the big Australia plan in action..
 
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