AMP chief economist Shane Oliver said that although net immigration numbers are lower than previously predicted, Australia appears unlikely to make significant progress in its efforts to mitigate its housing shortage. He was surprised that the government lowered its net immigration forecast for the previous fiscal year from 335,000 to 310,000, and noted that this figure is expected to drop to 225,000 in the next few years. Oliver pointed out that although this suggests a slowdown in demand for basic housing, the number of completed homes is still far below the government's annual target of 240,000 units. He believes that the cumulative housing gap of 200,000 to 300,000 units is unlikely to change in the short term.

AMP chief economist Shane Oliver said that although net immigration numbers are lower than previously predicted, Australia appears unlikely to make significant progress in its efforts to mitigate its housing shortage. He was surprised that the government lowered its net immigration forecast for the previous fiscal year from 335,000 to 310,000, and noted that this figure is expected to drop to 225,000 in the next few years. Oliver pointed out that although this suggests a slowdown in demand for basic housing, the number of completed homes is still far below the government's annual target of 240,000 units. He believes that the cumulative housing gap of 200,000 to 300,000 units is unlikely to change in the short term.