According to the Australian Bureau of Statistics, record overseas migration added 518,000 people to Australia's population in the 2022-23 financial year.
ABS head of migration statistics Jenny Dobak said overseas migration was at a “record high”.
This is 8,000 more people than Labor’s forecast on Monday, an increase of 2,000 people a day in just four days, and 118,000 more people than the Government forecast in the May Budget.
People will be asking Labor, where will all these people live?
Migrant arrivals increased 73% to 737,000 from 427,000 arrivals a year ago, and international students accounted for 283,000 arrivals, an increase of 100 per cent.
Labor says they don’t want a Big Australia, but under the Albanese Government, 900,000 people will arrive over two years, and 1.625 million will arrive over five.
Labor won’t even commit to reducing their record migration levels as Australians endure the cost-of-living pressures, housing shortages and rent hikes.
CLARE O'NEIL: It's not a target; it's an estimate, and David, you'll understand that there are things about that number that are not within the control of the government... So, we don't commit to those numbers as a target; as you've said, they are estimates of the policy decisions that we're making.
Australians are worried about the impact of record immigration on inflation, cost of living, housing, government services, and the environment, but the Government won’t commit to dealing with it.
In fact, this Government boasts about processing more visas faster, which has just added to record migration.
Experts continue to make the link between Labor’s Big Australia and the housing crisis.
- "The high pace of immigration is not compatible with the level of housing supply that we have in this country. We're just not building enough homes to keep up with our population growth," AMP deputy chief economist Diana Mousina, 12/12/23.
- “Slowing migration would help vulnerable Australians whose rents are rising today,” Brendan Coates and Trent Wiltshire lead the Grattan Institute’s migration policy work, 28/11/23
- “The most sensible solution is a short-term reduction in migration to release some pressure in the economy, to give homeowners and renters a break and to buy some time to allow our housing infrastructure to catch up with demand.” Qualitas Group Managing Director Andrew Schwartz 21/11/23.
- “That is an enormous adjustment for an economy to bring in 500,000-600,000 people. If they’re in family groups … we’re talking about another 200,000 homes. No wonder we’ve got rental shortages in Australia.” Former Treasurer Peter Costello, 13/11/23.
- “Immigration is a big driver of housing demand, and from our perspectives, from one of the largest providers of home loans in the market, it’s a material driver.” ANZ chief executive Shayne Elliott 13/11/23.
- “Strong population growth has added to demand for rental properties, particularly in major cities.” Reserve Bank of Australia 9/11/23.
- “The government is doing the opposite – it’s doing its bit to increase inflation and make life tougher for borrowers, in two ways: through “cost-of-living relief” subsidies and, most of all, through immigration.” Financial journalist Alan Kohler, 9/11/23.
- “The problem for the Albanese Government is that it cannot deny the blowout in net migration under its watch.” Former Deputy Secretary at the Department of Immigration Abul Rizvi, 9/11/23.
- “The rapid recovery in migration is adding to pressures in the housing market”. Treasury Secretary Steven Kennedy, 25/10/23.
- “Current immigration levels are running well in excess of the ability of the housing industry to supply enough homes, exacerbating an acute housing shortage and poor housing affordability.” AMP Chief Economist Shane Oliver, 20/9/23.
