Business
Lack of incoming migrants during coronavirus is wounding Australia’s housing sector – SBS News
A fall in migrants during the pandemic is causing a sharp drop in housing demand, with the sector urging the government to create a migration plan and extend HomeBuilder incentives.
Scott Morrison is being urged to extend the HomeBuilder program after new research found the coronavirus pandemic could savagely cut housing demand over the next three years.
The Property Council also wants the government to introduce a new migration plan.
Population growth could fall by 214,000 between 2019 and 2021, a decline only surpassed by World War I and the unwinding of the 1971 baby boom.
This is the result of international border closures that have effectively shut down overseas mig…
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