Guest BurgessFamily

Here's a reality check...

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    Guest BurgessFamily

    2009-2010

    UK Immigration - 591,000 (net 252,000)

    Australia Immigration - 168,623 (net 77,000*)

     

    For such a small nation, the UK does attract a high number of new arrivals, yet the property market is flat - no-one is buying.

     

    In contrast, Australia can't build them fast enough - immigration "guarantees a housing shortage", and therefore perpetual property prices. Even now, they say the shortage will kick in and prices will jump again.

     

    *2008/2009

     

    BBC News : Net migration to UK in 2010 at record high

    http://www.bbc.co.uk/news/uk-15868793

     

    Australian Government : Key Facts In Immigration

    http://www.immi.gov.au/media/fact-sheets/02key.htm

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    Guest BurgessFamily

    I think there are a few here surviving on handouts.

     

    "MORE than a third of South Australians are receiving taxpayer-funded welfare payments or concessions"

    http://www.adelaidenow.com.au/report-reveals-south-australias-577000-centrelink-customers/story-e6frea6u-1226193184181

     

    "New data reveals 80 houses are seized a month, while up to a third of people in the worst-hit suburbs are struggling to pay rent"

    http://www.adelaidenow.com.au/money/on-struggle-street-mortgage-and-rent-stress-leaving-families-homeless/story-e6fredkc-1226203237155

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    2009-2010

    UK Immigration - 591,000 (net 252,000)

    Australia Immigration - 168,623 (net 77,000*)

     

    For such a small nation, the UK does attract a high number of new arrivals, yet the property market is flat - no-one is buying.

     

    In contrast, Australia can't build them fast enough - immigration "guarantees a housing shortage", and therefore perpetual property prices. Even now, they say the shortage will kick in and prices will jump again.

     

    *2008/2009

     

    BBC News : Net migration to UK in 2010 at record high

    http://www.bbc.co.uk/news/uk-15868793

     

    Australian Government : Key Facts In Immigration

    http://www.immi.gov.au/media/fact-sheets/02key.htm

     

    Interesting figures but I'm not sure what to make of the housing situation. If all those migrants to the UK haven't boosted the property market I don't see why there's any 'guarantee' that the much smaller (in comparison) numbers to Australia will keep boosting this market. Regarding 'they say the shortage will kick in again' etc, for every analyst predicting a price rise there's one predicting a further drop - some predicting an out and out crash! Certainly in SA, construction of new homes has dropped significantly over the last year (although it's also true to say that net migration numbers to SA are small and therefore have less of an effect on markets).

     

    Jim

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    I read something somewhere saying there is no housing shortage in South Australia, there has been plenty of new house building in the past few years in this state (can't remember where I read it though). Newport Quays at Port Adelaide has been struggling to sell, and I can't see all the new homes being built in Woodville and on the old Cheltenham racecourse selling very quickly. Most immigrants wouldn't be able to afford them - see this one for example http://www.realestate.com.au/property-house-sa-woodville-108519046?listingType=buy

     

    Watch the video in this article (somewhere in Queensland) - it's very interesting....

     

    http://www.whocrashedtheeconomy.com/blog/2011/10/there-is-a-shortage-of-housing-in-australia-wayne-swan/

     

    Maybe it will end up like Ireland/Spain/UK/USA with whole new housing estates lying empty.

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