Increased immigration in Australia pushes up the property prices
Due to the increased levels of immigration the prices of the Australian property have increased by an average of 10% pushed up by the demand caused by newcomers, who arrive in the country from abroad. According to the real estate company UCHK Consulting which is an advisor of the Australian immigration department, to understand how the investors put their money in Australian property means to understand what they think of the economic prosperity that the it offers. ‘The national affordability factor and immigration trends are as important as the recorded increase in property values and will play an important role in future potential for capital growth,’ said UCHK chief executive officer Scott Talbot. He claims that Australia is one of the few countries in the world today whose property market is booming because of immigration. He says that Australia undeniably wins in popularity, ‘Walk down a street in any country in the world and ask a simple question: “Today, we are handing out passports. Which countries would you like to live, work and raise your family?” The response is more likely Australia,’ he explained.
Talbot points out that immigration is a critical component of the formation of the Australian nation. According to the demographic statistics at least 50% of the people who live in Australia are born abroad or have one parent that lives abroad. The increased migration has made Australia a leading factor in the world trade since it enriches it socially, culturally and ethnically. The Australian government wants 200,000 more immigrants per year for population, participation, and productivity growth and as such Australia’s economic policy and real estate capital growth is joined at the hip with immigration.
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