BCA report debunks myths surrounding the housing crisis in Australia

The Business Council of Australia (BCA) has rejected worries that the housing crisis is caused by the surge in post-pandemic migration. In a document about migration reform released recently, the business association indicated that the main issue originates from insufficient policies and planning.

The BCA emphasized that labelling the temporary adjustment in Australia’s migration inflows as a “big Australia” policy is misleading. The report arrives just before the upcoming National Cabinet meeting, during which Prime Minister Anthony Albanese aims to obtain state-level consensus on enhancing housing supply and upgrading rental rights

Although the BCA acknowledged the shortage of available housing as a “genuine concern,” it asserted that migration wasn’t the main driver of this issue and reducing migrant numbers wouldn’t solve it. The report stated that majority of Australians agree that migration is a benefit to Australia. However, it emphasized that effective planning and management, including adequate housing supply, are essential.

The BCA pointed out that ineffective planning systems and restrictive zoning hindered the creation of new housing supply, as mentioned in the report. Additionally, it highlighted that the desire for more living space during COVID lockdowns and a subsequent decrease in the average number of occupants per dwelling contributed to the housing demand, even as the population declined.

The business council expressed approval for the federal government’s endeavours to revamp the migration system. However, it pointed out that the nation’s progress was being hindered by sluggish and intricate migration processes, which were impeding businesses from vying for the most skilled and talented individuals.

Next (Canada introduces First Home Savings Account, a step toward affordable homeownership)

BCA report debunks myths surrounding the housing crisis in Australia

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