Australian Housing Crisis

Dutton has pledged to cut overseas migration from 260,000 to 160,000, while Coalition partner Littleproud said it would not affect migration to regional areas.

The money will deliver up to 270 new homes each year for 10 years, and comes on top of an existing building programme.

Despite surging interest rates and high inflation, the median value of an an Australian house has risen by $188,000 since 2020.

The party has proposed a $27.9 billion plan aimed at building 610,000 houses over the next decade through a government-owned property developer.

The exodus of 30- to 40-year-olds has reached alarming levels, with many forced to relocate to more affordable areas.

Planning Minister Paul Scully has admitted there is no quick fix.

‘Government has a role in building houses to help remedy the housing shortage, but it’s housing affordability that is a potential disruptor for our business.’

Immigration may not be a substitute for economic growth through productivity.

‘Homelessness services are so stretched they are having to turn away one in two people who knock on their doors,’ said Homelessness NSW CEO.

Some estimates say the overall strategy will halve Australia’s net migration within 2 years.

Through these changes, the government is estimated to raise about half a billion dollars.

Airbnb is an easy target. Any change makes people uneasy, and innovations like these are definitely a change.