Australian immigration falls for first time in two years

THE number of people migrating to Australia fell for the first time since the country lifted its Covid-era border restrictions, led by a drop in international student arrivals, official figures showed on Friday (Dec 13). 

Net overseas migration, or net gain or loss of population through international migration, fell to 446,000 in the year ended June 2024, down from 536,000 a year earlier, according to figures from the Australian Bureau of Statistics. The number of student visa holders dropped by 25 per cent to 207,000, from 278,000 the year before. 

The data shows the impact of a crackdown by the government on international student visas, including higher fees and a proposed cap, which hurt its global reputation as a provider of high-quality tertiary education. The move was part of a migration crackdown in response to voter concerns about a housing squeeze that sent rents soaring, proving to be politically damaging for the centre-left Labor government.

“Migrant departures on temporary student visas doubled in 2023-24 compared with the year before,” said Jenny Dobak, head of migration statistics at the ABS. 

Total population growth last financial year “implies we should have built around another 221,000 dwellings whereas dwelling completions were only around 176,000,” said Shane Oliver, chief economist at AMP. That means the country is facing a shortage of at least 200,000 homes nationwide, he said. BLOOMBERG