Exactly WHERE will Australia's 650,000 new migrants live as the nation's housing crisis deepens
It's grossly irresponsible for Albanese to allow a migrant influx when housing is already so tight. He clearly doesn't give a damn about the poor people who are bearing the brunt of the present shortage. It's a long time since the Labor party cared about the worker
Concerns are growing over how Australia will cope with a record level of permanent migrants entering the country as the nation continues to battle a housing and rental crisis.
The Albanese Government is reportedly planning for a total of 650,000 new migrants to settle here by mid-2024.
Combined with estimates for next year, this means a total of 1.2million extra people will be living Australia in June next year compared to five years earlier.
The floodgates are being opened to skilled migrants, international students and those coming for family or humanitarian reasons, even though Sydney and Melbourne - home to more than half of those who have come to Australia in the last 20 years - have ultra-low one per cent rental vacancy rates.
SQM Research managing director Louis Christopher said surging immigration would make it even harder for people looking for a home to find accommodation, with weekly rents in Sydney soaring by 25 per cent during the past year compared with 22 per cent in Melbourne.
'We still remain very concerned for the situation in Melbourne, Sydney and Brisbane where most international arrivals first land,' he said.
'The surge in net overseas longer term and permanent arrivals relative to new residential property supply is ensuring extremely tight rental conditions remain with our two largest capital cities.'
Australia's rental crisis is so critical that some families are being forced to live in tents because there is a severe shortage of long-term accommodation.
One Nation leader Pauline Hanson was so fed up she tweeted her disgust at plans to see net overseas migration surge to 650,000 - which is the amount coming during 2022-23 and 2023-24 combined.
'Labor's record high immigration is literally forcing Australian families to live on the streets – and winter is coming,' she said. 'We have an unprecedented housing and rental crisis. We don’t have enough homes for everyone in Australia. 'Australia is in serious trouble.'
The accommodation shortage problem is widespread with Sydney having a rental vacancy rate of just 1.3 per cent compared with 1.1 per cent in Melbourne, 0.4 per cent in Perth and 0.5 per cent in Adelaide.
Brisbane's rental vacancy rate stands at just 0.8 per cent, SQM Research data showed.
Sydney and Melbourne housed 56 per cent of Australia's new migrants between January 2000 and August 2021, new Australian Bureau of Statistics data showed.
Australia's net annual immigration in the year up to September 2022 stood at 303,700 people - a 15-year high - taking the overall population above 26.1 million.
This was the biggest overseas increase since late 2008, and included skilled migrants, family reunions and international students.
The immigration surge is also coinciding with Prime Minister Anthony Albanese facing obstacles to his plan to build 30,000 homes under its Housing Future Fund.
Labor's plan to build new social and affordable homes during the next five years has met opposition from the Greens, whose support the government needs in the Senate to get the legislation passed.
A bill to establish the $10billion fund is being put to a parliamentary vote this week but Brisbane-based Greens MP Max Chandler-Mather, who holds the minor party's housing portfolio, is opposed to the program investing money in shares.