Urban Taskforce Australia CEO, Tom Forrest, expressed great concern over the impact that the housing supply, rental and affordability crisis is having on the prospects for economic recovery in New South Wales.
“ABS population data released today shows that overseas migration numbers are recovering fast. But NSW is losing massive numbers in “inter-state migration” to the other states”, Mr Forrest said.
“That means that while the population grew Australia-wide in the 12 months to June 2022 by 1.1%, in NSW the population only grew by 0.7%. NSW recorded close to the lowest population growth rate of all the States of Australia. The population of Queensland grew by 2%, WA 1.3%, Victoria and SA both grew by 1% with only Tasmania lagging behind NSW with population growth of 0.6%.
“In the last 12 months, NSW has lost 43,451 people who have gone to live in other States. Victoria, despite their extensive lockdowns, only lost 17,233. All the other States grew as a result of an inflow from NSW and Victoria.
“The cost of a home and the cost of rent are all reflections of the efficiency of the planning system. The first and primary task for the planning system is to deliver enough homes to house the population. We have a supply crisis, so something has gone very wrong. Young people are fleeing NSW as a result.
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