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Without affordable housing, government should slow immigration, report says

State governments need to tackle rising house prices or consider curbing immigration, according to a report from the Grattan Institute.

As reported in the Herald Sun, the report, Housing Affordability: Reimagining the Australian Dream said housing costs rose even further because until recently, the supply of new homes did not keep up with demand, especially from population growth boosted by high immigration.

CEO John Daley told Ross and John the issue is particularly relevant in capital cities.

“In other words you’re saying you can’t just keep importing people and not building more houses for them because the immutable laws of supply and demand say that’ll just mean rising house prices,” Ross said.

“That’s exactly right,” John replied

“Houses are a little bit like avocados, if demand for avocados goes up and you don’t plant a lot more avocado trees very quickly then you see the prices go up.”

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Photo: AAP

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