A recent survey conducted in Australia indicates that the majority of Australians have mixed feelings about the government’s decision to increase immigration. The survey revealed that 84% of respondents believe the increase will have at least one positive impact, with most citing economic benefits. At the same time, 92% of respondents believe that an increase in immigration will have at least one disadvantage, with concerns such as increased housing prices and rents, overcrowding in cities, and unemployment and job competition being the most commonly cited issues.
The Positive Effects of Immigration
Despite the concerns mentioned above, migration can have a positive impact on the Australian economy. Sydney-based mortgage broker Nathaniel Truong believes that increased migration has fueled economic activity, supported population growth, and generated tax revenues. He sees migration as an overall benefit to the community and argues that increased competition will ultimately be beneficial for the property market and economy.
Truong suggests that new migrants need better support in the form of mortgage broking services in their native language and investment in infrastructure to aid settlement. He recommends that brokers build a team of professionals who can assist migrants in their language, such as accountants, solicitors, real estate agents, and interpreters. He believes that Australia should maintain its image as a destination country for migrants and invest in better infrastructure to support settlement, effective integration programs, and a streamlined visa process to make it easier for migrants to become permanent residents or citizens.
The Negative Effects of Immigration
While the benefits of migration cannot be denied, there are legitimate concerns about the negative effects that it can have on Australian society. Housing affordability is a significant concern, with many people fearing that increased migration will lead to higher housing prices and rents. Overcrowding in cities is another issue, with some people worried that population growth will lead to a decline in the quality of life in urban areas. Finally, there is the issue of job competition and unemployment, with some people worried that increased migration will make it more difficult for Australians to find work.
Conclusion
In conclusion, while there are concerns about the negative effects of increased immigration, it is clear that the majority of Australians believe that it will have positive effects on the economy. Brokers and other professionals can play a crucial role in supporting new migrants as they settle into their new lives in Australia, ensuring that the benefits of immigration are realized while mitigating any negative effects on housing prices, overcrowding, and unemployment. Ultimately, the key to a successful migration policy lies in finding a balance between the benefits and the drawbacks and ensuring that new migrants receive the support they need to integrate into Australian society.
As migration also brings good benefits to the property market, contact our real estate agents to learn more about the property market in general and get a free market appraisal from Sapphire Estate Agents Queensland.
