REA Group Economic Research’s Executive Manager Cameron Kusher says temporary migrants are exacerbating the challenges in the rental market.
“Most of the people that come into the country don’t own a home, most of the people that migrate to Australia are temporarily here,” he told Sky News Business Editor Ross Greenwood. “If you’re only here on a temporary visa, you’re probably not going to look to buy a home, but you are going to spend a number of years in the rental market.“We’re seeing a low volume of new dwelling approvals and commencements, so we’re not getting the supply response we really need.”
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