{"id":1281,"date":"2021-12-20T04:24:41","date_gmt":"2021-12-20T04:24:41","guid":{"rendered":"https:\/\/royabhishek.in\/urbanbuyer\/population-key-to-australias-future\/"},"modified":"2021-12-20T04:24:41","modified_gmt":"2021-12-20T04:24:41","slug":"population-key-to-australias-future","status":"publish","type":"post","link":"https:\/\/royabhishek.in\/urbanbuyer\/population-key-to-australias-future\/","title":{"rendered":"Population key to Australia’s future"},"content":{"rendered":"

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The impact of COVID-19 is expected to deliver a 1.5 million person shortfall to Australia\u2019s population outlook, according to the Federal Government\u2019s 2021 Population Statement released today.<\/p>\n

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The impact of COVID-19 is expected to deliver a 1.5 million person shortfall to Australia\u2019s population outlook, according to the Federal Government\u2019s 2021 Population Statement released today.<\/p>\n

The statement reveals the population projection for 2030\/31 has taken a 1.5 million person hit, when compared to projections made prior to the onset of the pandemic.<\/p>\n

Property Council of Australia Chief Executive Ken Morrison says for the first time since World War II, Australia has experienced a net outflow of overseas migrants.<\/p>\n

\u201cShutting our borders was a necessary decision to protect human life, but it also meant switching off population growth, which has been one of Australia\u2019s biggest economic engines,\u201d Mr Morrison said.<\/p>\n

\u201cWhile noting the uncertainty around Omicron, it\u2019s pleasing to see that Australia\u2019s high vaccination rates and re-opening of borders has meant net overseas migration is expected to recover earlier than first predicted, but we need to catch up as fast as we can,\u201d he said.<\/p>\n

\u201cGetting overseas net migration back to normal levels, as quickly as possible will be critical to Australia\u2019s economic recovery,\u201d he said.<\/p>\n

Recent data from the ANZ\/Property Council survey revealed confidence in the property sector has reached a high not seen since March 2018, with the sector buoyant about growth, hiring and forward work expectations.<\/p>\n

\u201cThere is no doubt the property sector is set and ready for a strong rebound, but without migration-led population growth, the sector \u2013 which employs more people than any other \u2013 just won\u2019t have the skilled workers required to deliver the projects that are ready to roll out,\u201d Mr Morrison said.<\/p>\n

\u201cIt\u2019s pleasing to see the Federal Government building in some \u2018catch up\u2019 migration between now and 2024, to make up for the losses of the pandemic,\u201d he added.<\/p>\n<\/p><\/div>\n