25 September 2008

Report from ABS shows record migration in Australia

Figures released yesterday from the Australian Bureau of Statistics show Australia is experiencing record numbers of migration, causing the population to boom and forcing housing developers to dramatically increase rates of construction.

The report claims that 1,100 immigrants and visitors on long-term Australian visas arrive every day in Australia, while the net migration intake for the year to April reached a record 200,000 people.  The number of foreign nationals staying for over a year also reached record levels at 430,000 people.  230,000 permanent and long-term departures ensured the net flow of migrants was positive. 

Australia’s population increased 1.6 per cent on the previous year, to reach 21.28 million, and 56 per cent of this increase was the direct result of immigration.  Western Australia had the highest rate in population increase, while Tasmania had the lowest.  Queensland had the highest rate of interstate immigration (24,300) and Victoria and New South Wales had the highest rate of Australian immigration.

According to the Canberra Times, the high rate of Australian immigration is causing concern that the demand for housing will not be able to keep up.

"The inflow of migration is putting pressure on the housing rental market," the International Monetary Fund (IMF) said in its latest report card on the Australian economy. 

IMF also said Australia is experiencing a boom in both the mining and immigration industries, which could possibly encourage inflation if not managed properly. However, the Treasurer, Wayne Swan, said the report had also given the Government a "very big tick" for its first budget, which the IMF described as "prudent" and "contractionary".

The IMF also pointed out that while the migration rate doubled over the past three years, the growth rate in rental properties also trebled to meet increasing demands.

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The Australian Visa Bureau is an independent consulting company specialising in helping people apply for an Australia visa.

Article by Jessica Bird, Australian Visa Bureau.