Australia’s Housing Shortage Crisis Worsens: Australia adding one person every 47 Seconds…
Dear Fellow Property Investor,
A recent Domain analysis shows that Australia will need to add 497,984 dwellings to Australia’s housing stock to accommodate the 1,235,000 projected net overseas migrants projected to arrive in Australia over the four years to 2022-26:
That equates to 341 new homes required every day for four years!
In reality, Australia would need to build more than this level to account for homes lost through demolition.
Interestingly, the ABS’ population clock shows that Australia is currently growing by one person every 47 seconds, driven by one person arriving to live in Australia every 42 seconds via the Albanese Government’s extreme immigration program:
Blind Freddy can see that the chances of Australia adding enough homes to meet this extreme population growth are slim, given construction rates are falling amid widespread builder failures and skyrocketing material and financing costs.
At this month’s Senate Estimates hearing, Treasury Secretary Steven Kennedy stated that the reduction in building approvals is projected to continue until 2025, with investment in new dwellings expected to fall by 2.5% this year, 3.5% in 2023-24, and 1.5% in 2024-25.
All this is great news for Landlords who will see rentals skyrocket in ‘Key’ suburbs around Australia over the next few years.
At the same time, it’s bad news for tenants, and first-time home buyers.
Remember that the risk always lies with you, not with the market.
The market is simply a vehicle that transfers wealth from the uneducated to the educated. The sooner you gain the necessary skills and education to take advantage of the property market, the sooner you will be making money and taking advantage of rare opportunities such as what the current property and share markets are presenting right now.
Let me ask you something…
Do you have a game plan for 2023?
Or will you watch savvy, educated, market-ready investors snap up all the bargains at the bottom of the Melbourne property cycle (which in my opinion by the way has already bottomed out in November 2022),
Or will you join them?
So, what are you waiting for?
Reserve your place and join me and 55 like-minded property investors at the next Real Estate Investing Fast Track Weekend!
