Housing is expensive now, but Economists see rent and house prices rise in 2023

When Australia opens its borders to migrants, the already skyrocketing house prices could rise further. While immigration is not the only factor influencing house prices, it adds to the already strong demand for housing.  Economists say about one extra home is required for every three migrants.

This will depend on how high the annual immigration intake is, as well as other variables such as interest rates and the possibility of further restrictions on borrowing.

The surging Australian house prices may only face ‘modest’ impact from tighter home loan rules.

The Stricter standards on households’ ability to pay back loans may do little to stop the booming market,  as many people don’t borrow at their full capacity.

And Banks can withstand a decrease in house prices as long as borrowers stay in work and are able to service their loans.

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