Original article by Michael Read, Tom McIlroy
The Australian Financial Review – Page: 6 : 25-Oct-23

The Treasury has previously forecast that net overseas migration totalled 400,000 in the year to June. However, former Immigration Department official Abul Rizvi estimates that net overseas migration topped 470,000 in the year to June; he adds that the migrant intake probably reached 500,000 in the year to September. Rizvi also believes that the Treasury’s forecast that the annual migrant intake will fall to 315,000 by June 2024 is unlikely to be realised. Brendan Coates from the Grattan Institute says Australia’s record migrant intake will increase housing demand and put upward pressure on the inflation rate.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF HOME AFFAIRS, GRATTAN INSTITUTE