Australia is gearing up for a massive influx of immigrants, with the government forecasting 1.5 million new arrivals by 2027, nearly doubling recent migration figures. This surge comes after COVID-19 border closures caused a net exodus in 2020 and 2021.
The business community stands to benefit from addressing labor shortages, with 60% of surveyed businesses affected. Most believe that well-planned immigration, providing necessary services, housing, and infrastructure, will be positive for Australia.
Immigration lawyer Arnela Tolic underscores the importance of immigrants in addressing workforce shortages, particularly in construction, healthcare, and hospitality, where skill gaps have emerged, Herald Sun reports. It’s expected that new immigrants will fill these roles in the coming months.
While most immigrants prefer New South Wales, the Australian Capital Territory, Victoria, and Queensland, incentives are encouraging settlement in regions beyond major cities. The goal is to double the proportion of new immigrants settling in regional Australia by 2032. 
Housing, however, remains a challenge. The Australian Housing explained that tight rental supply and low vacancy rates in major cities have driven up rents. Housing approvals have hit a 10-year low, dropping by 17.6% for houses and 10.4% for apartments in the year leading up to June 2023.
The Property Council of Australia urges balanced investment in housing alongside targeted immigrant strategies. Immigrants’ housing choices depend on their financial situation, and international students contribute to rental demand.
Wealthy foreign buyers and high-net-worth individuals are also active in the property market. Australia tops New World Wealth’s “2023 Wealthy Preferred Countries.”
The government has allocated visas for immigrants through the Global Talent Independent visa program, and foreign investment in property is on the rise.
While these developments place pressure on the housing market, they are seen as essential for keeping businesses afloat and addressing challenges posed by an aging population. Immigration enriches Australian cities with cultural diversity and depth, enhancing the lives of all Australians.
Source: Herald Sun, jinriaozhou.com.au