Part 4/6:
Warren also discussed the role of migration in housing demand. She notes that Australia’s net migration rate has fallen from nearly 500,000 people annually, following political debates about reducing migration levels. She explained that migration has historically been a significant driver of housing demand and construction.
During periods of higher migration, Australia built approximately 240,000 homes per year, partly due to robust foreign investment, particularly in medium- and high-density housing. However, recent restrictions on migration and foreign investment have contributed to a slowdown in housing supply.