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OVERSEAS ARRIVALS OUTPACE NEW HOME BUILDS BY 4X
THE HON MICHAEL SUKKAR MP
Shadow Minister for Social Services
Shadow Minister for NDIS
Shadow Minister for Housing
Shadow Minister for Homelessness
MEDIA RELEASE
21 March 2024
OVERSEAS ARRIVALS OUTPACE NEW HOME BUILDS BY 4X
New data published by the ABS today has confirmed Labor’s housing crisis is worsening with overseas arrivals running at four times the rate of new home builds.
Since Labor came to Government we have seen record levels of migration and the construction of new homes in freefall – with approvals, commencements and completions running at unprecedented lows. Australians have also suffered a 26 per cent increase in rents under Labor.
Analysis of Labor’s own migration data shows between July 2022 and December 2023 there were 900,200 net overseas arrivals, yet over the same period there was a meagre 265,000 building completions.
This sadly just shows Labor’s housing crisis is only set to get worse, with home ownership inching even further out of reach for aspirational Australians wishing to own a home of their own.
It is now clear that Labor’s policy of a Big Australia is baking in Australia’s housing crisis.
Ends