[Podcast] How will plummeting immigration affect our economy and property? With Simon Kuestenmacher

The coronavirus crisis has cut Australia off from the world.

And our population growth is about to slow dramatically. 

This is going to affect our property market and slow economic growth by up to 2%. 

Every time we have an economic downturn, immigration becomes a topic of great interest.

And with the likelihood of unemployment rising to over 10%, the discussion has become even more vocal. 

In today’s show, I discuss the political, economic, and property implications of immigration with our regular guest, leading demographer Simon Kuestenmacher. 

You may be surprised by what his research suggests will happen to immigration, and the information may help you shape decisions going forward. 

Highlights from my talk with Simon:

  • The variables Simon had to consider when looking at the consequences of the decrease in immigration.
    • The idea is that by 2030, Australia will still have grown, but by one million less than they could have without the pandemic.
  • So far, Australia seems to be getting through the pandemic with very few deaths, so there isn’t currently a need to alter the death rate predictions.
  • Over the next year or two, the demand of the labor market will be able to be filled with people who are already in Australia. 
    • But after a year or so, Australia will hit the wall again and new talent will need to be brought in. 
  • The demographics of the missing million.
  • How those missing demographics affect businesses.
  • How temporary visa holders will be affected.
  • The jobs that are servicing the property and construction industry will be suffering the most from decreased immigration.
  • Infrastructure spending.
  • Millennials finally in the family formation stage of the life cycle, which should be a positive for property and the economy.

Links and Resources: 

Michael Yardney

Simon Kuestenmacher – Director of Research at The Demographics Group

Simon’s YouTube Channel 

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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'[Podcast] How will plummeting immigration affect our economy and property? With Simon Kuestenmacher' have 2 comments

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    June 19, 2020 Rupam

    Very good podcast – excellent analysis and insight. Thanks

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