Judo Bank Economic Advisor Warren Hogan says the migration surge will add more pressure to an already “overheating” economy.
“Of course, there’s the benefit that this will help alleviate labour shortages and that will be welcomed by many businesses and other organisations, but it’s more than just helping with labour shortages,” Mr Hogan told Sky News host Amanda Stoker.
“This is going to add demand to the economy and the most sort of critical point we’re seeing at the moment is in the rental housing markets where rents are surging on a basic shortage and this is a reason this a big part of the shortage.”
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