Australia’s Housing Prices Have Hit New Highs. Officers See Migrants as A part of the Drawback.

SYDNEY—Australian residence costs simply hit a excessive in what was already one of many world’s most costly real-estate markets. Now, Australian officers say they’ve a plan that may assist to make housing extra inexpensive: curbing migration.

A brand new coverage, unveiled this week, will end in a 14% discount in migrants over the subsequent 4 years than would in any other case be anticipated, in response to authorities forecasts. The nation of 26 million absorbed a document of some 510,000 internet arrivals in its most up-to-date fiscal yr, greater than 20% above what officers had projected seven months in the past.