Housing affordability: cut immigration and let first home buyers raid their superannuation, says Tony Abbott

Housing affordability: cut immigration and let first home buyers raid their superannuation, says Tony Abbott. By Fergus Hunter.

“There are supply factors and there are demand factors. And one thing the federal government could do that would ease some of the demand pressure is to scale back immigration at least until land release and infrastructure can keep up,” Mr Abbott told reporters on Monday night.

“And frankly there is nothing sacrosanct about any particular immigration number. The Howard government scaled back immigration its first few years for a whole host of reasons.” …

The permanent migration program currently sits at 190,000 places a year, mostly made up of skilled workers under the age of 50. Immigration amounts to approximately 55 per cent of Australia’s population growth and the general consensus among experts is that it does increase the cost of housing.