AUSTRALIAN IMMIGRATION NEWS

Migration keeps property prices high

Tuesday, 23 October 2007

The demand for housing in Australia caused by immigration to the country could mean Australia needs 100,000 more new homes within the next year.

The influx of immigration into Australia has meant that there is an under-supply of housing throughout much of the country keeping property values extremely high, especially in urban centres like Melbourne and Sydney.

The housing shortfall is compounded by the ongoing skills shortage throughout Australia. The shortage of skilled workers is affecting the construction industry, which is increasingly reliant on skilled trades people who migrate from abroad.

Despite the property price increases, the skills shortage and constructions shortfall is good news for anybody working in a trade related to the construction industry. The skills shortage has meant that trades people have seen significant wage increases over the past year - commanding much higher rates due to demand.