MIGRANTS IN BUSH TO EASE HOME PRICE PAIN
AUSTRALIA’S housing price pressure could be eased if new migrants were encouraged to settle in rural or regional centres, according to former prime minister John Howard.
While visiting the Gold Coast yesterday, Mr Howard said doing that wouldn’t change things immediately but it would take the pressure off.
“I think the Government is quite sensibly looking at ways at encouraging new migrants to settle in rural area or regional areas and the less populous capital cities,’’ he said. “Over time it would take some pressure off.’’
Mr Howard was on the Gold Coast to open the Ray White and Loan Market, Connect 2018 conference, which was attended by more than 2500 agents and brokers.
He said the biggest problem with the cost of housing was that supply of land had not kept pace with demand and there had been “absurd restrictions’’ on the release of some land.
“I think in some parts of the country the level of immigration is probably putting pressure on the housing market, but in other parts of the country it is not the case,” he said.
He encouraged those wanting to buy their first home to keep saving and said he expected for some to buy it would mean a move out of the big cities.
A relative of his had just done this, leaving Sydney and moving to Currumbin.
“Currumbin is cheaper than the Sutherland Shire of Sydney, much cheaper,’’ he said.