Exclusive | Students make up almost half the intake now that border controls have been removed, leading to a one-off net migration surge that will fall to 315,000 next year.
Australia’s migrant intake will soar to its highest level on record as 400,000 people enter the country this year in net terms, sparking a debate among federal and state political leaders over new housing measures and tougher visa rules to deal with the influx.
The national cabinet meeting also launched a push to harmonise protections for renters across the states and territories on issues such as the frequency and amount of rent increases, although Albanese played down the prospect of the laws being the same in each jurisdiction.from 2024 in a national housing accord led by Treasurer Jim Chalmers and backed with state support.
Net overseas migration is the net gain or loss of population through international migration to and from Australia. It is calculated by measuring overseas migrant arrivals and subtracting overseas migrant departures. The $2 billion measure outlined on Friday will support the National Housing Finance and Investment Corporation to raise finance for social and affordable rental homes and help community housing providers.
This means the cumulative migration intake will take until 2029 to recover to the levels forecast before the pandemic, according to a government official aware of the forecasts but not authorised to speak publicly on the issue.
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