Is Migration to blame for the housing crisis?

The housing market is under the spotlight, with overseas migration being identified as a significant influence. Despite challenges like high interest rates, low consumer sentiment, and strained housing affordability, property values and rents are on an upward trajectory, while vacancy rates are declining amidst record-high net overseas migration.  National home values have surged by 7.2% year-to-date, and rents have seen a 6.0% increase in the same period. While heated discussions about migration’s impact on housing affordability intensify, we do need to consider various factors influencing values and the rental market. Long-term migration policies should not be swayed by short-term volatility […]

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