Anthony Albanese’s government now wants to import several thousand more trade goods, as record immigration worsens Australia’s housing crisis.
Labour’s next budget is setting aside $90.6 million to increase the number of skilled workers in the construction sector.
The majority of that money, or $88.8 million, is intended to fund an additional 15,000 free TAFE training places and 5,000 pre-apprenticeships over two years from January 2025.
But $1.8 million is also being set aside to fast-track skills assessments for 1,900 potential skilled migrants from first-world countries who want to work in Australia’s housing and construction sector.
The funding would also give Trades Recognition Australia more resources to test 2,600 migrants from developing countries, whose skills are not formally recognized by Australia’s industry bodies.
Anthony Albanese’s government now wants to import several thousand more trade goods as record immigration worsens Australia’s housing crisis (pictured is Taj Singh, who will move to Australia from the UK in September).
The policy would cover people already in Australia seeking a skilled migration visa and those overseas applying to relocate.
Skills Minister Brendan O’Connor said migrants with construction skills were being wasted as Uber drivers.
Skills and Training Minister Brendan O’Connor said migrants with construction skills were being wasted as Uber drivers.
“There are people here on visas who have skills, who could work in sectors of the economy, who are not being recognised,” he told reporters in Sydney.
“What a waste of someone who has the ability to help build a house and all he can do is drive an Uber.”
“If we can find a faster way to assess and determine the skills of people who have visas in this country and help ensure that we build our housing stock, then why wouldn’t we?”
Reserve Bank Governor Michele Bullock said on Tuesday that high immigration had added to pressure on the property market, with rental vacancy rates in the capital now below one per cent.
‘As for the impact on inflation, it is actually not that simple because, yes, new immigrants increase demand; They have certainly increased pressure on the housing market, we know that,” he told reporters in Sydney.
‘But, on the other hand, they have increased the labor supply.
“Overall, it hasn’t increased inflation dramatically, with the exception that it has put a lot of pressure on the housing market and that’s obviously spilling over into rents.”
Housing Minister Julie Collins said Labour’s latest pre-budget announcement would help it deliver its plan to build 1.2 million new homes over five years, which would require 240,000 a year from July 2024. (pictured, houses in Oran Park, south-west Sydney). )
Housing Minister Julie Collins said Labour’s latest pre-budget announcement would help it deliver its build 1.2 million new homes in five years, which would require building 240,000 a year starting in July 2024.
“What we know is that we haven’t built enough housing in Australia for some years now,” he said.
‘What we know is that the number of homes in Australia, compared to the OECD average, is lower. “It’s been a long time since we built enough houses.”
Last year, just 168,690 new homes were built, despite a record 548,800 net new immigrants moving to Australia in the year to September.
At 2.5 people per household, on average, that conservatively leaves a shortfall of more than 127,000 new households to cater for new permanent and long-term arrivals abroad before births are taken into account.
Treasurer Jim Chalmers suggested building more housing was also the responsibility of state and territory governments.
“We will have more to say about our housing changes in the context of the Budget,” he told ABC Radio National on Wednesday.
‘Obviously that implies a lot of state and territorial responsibility.
‘You asked us about the housing target earlier in this conversation.
“And as well as making sure we have the workforce we need, we also need to make sure the states and territories are integrated as well.”
Reserve Bank Governor Michele Bullock said on Tuesday that high immigration had added to pressure on the housing market, with rental vacancy rates in the capital now below one per cent (pictured, travelers in Parramatta, western Sydney).
Commonwealth Bank chief executive Matt Comyn said high immigration was good for the economy and revealed a net cash profit of $2.4 billion for the three months to March, in a third quarter trading update on Thursday.
“We recognize that all households are feeling the impact of higher inflation and rates, however immigration is providing a structural tailwind for the economy,” he said.
The economy continues to grow, even after the Reserve Bank raised interest rates due to high immigration.
But it has been in a per capita recession since mid-2023, where Australia’s gross domestic product has been declining.