The price of housing in Australia is going up and up, being unreasonably pushed beyond the limits of ordinary Australians, especially for young couples and families.[1]
Immigration is a major issue in the price of housing. Land in close proximity to the major Australian cities is a limited commodity.
A high level of immigration creates a high level of competition for land and housing, thus pushing prices way up, pushing them beyond the reach of many Australians.
Sydney is the worst hit, as 76% of its population growth comes from immigration, forcing many ordinary Australians to move elsewhere in the search to find an affordable home.
It is estimated that house prices have gone up 75% faster than wages over the last 20 years.
To put it another way: the average price of an Australian house (including land) was about four times an average year’s wages 20 years ago, whereas today it now costs about seven times an average year’s wages.
No wonder that many Australians are finding it hard to buy a home.[2]
Even worse, the high amount of immigration is creating mega-sprawling cities, with suburbs spreading across the landscape with no end in sight, often building over scarce fertile farming land, creating enormous damage to the environment, and ruining the environmental sustainability of this great land.
It’s time to reduce immigration to sensible and sustainable levels, to make housing affordable again, and to protect Australia’s environment and future.
References:
[1] “Housing affordability index hits 23-year low”, www.abc.net.au/news/stories/2007/10/18/2062780.htm
“Australian housing: affordability continues to plunge”, www.banking-business-review.com/article_feature.asp?guid=41F91DA5-10AD-45AB-B93E-BCE2D2950AAB
[2] “Workers flee Sydney’s unaffordable housing”, www.thenewcity.info/february_2007_editorial.htm
“Sydney’s inner-city property blues”, www.smh.com.au/news/opinion/sydneys-innercityproperty-
blues/2007/01/02/1167500123288.html
And see: “Expert says housing shortage to continue”, www.thewest.com.au/aapstory.aspx?StoryName=440322
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