Migrants to the rescue of Victoria's economy as housing slump digs in

Victoria’s population boom, with nearly 85,000 overseas migrants settling here in the 12 months to September 2018, is keeping the state’s economy out of trouble as the property market continues to slow.

Mr Martine, in his regular economic update, noted that Victoria’s population growth was continuing to soar way above historic levels. “Net interstate migration remains strong and added 14,000 persons over the year, although this was 2400 persons lower compared to the previous year.”But the housing market continues to weaken, Mr Martine wrote, something reflected in declining property prices and weaker building approvals.

“The weakness in Victoria’s housing market is weighing on consumer and home buying sentiment, despite the strong labour market conditions,” Mr Martine noted.

it seems Fed gov is obsessed in growing d econ using big migrants intake to sell more units n expect them to spend Crazy We r importing too many duds driving Uber n running Chatime kebabs cafes Melb's capacity is saturated Gridlocked traffic long hosp queue &congestion

We need secure jobs via a more diverse economy. VoteSustainable Vote for SustainableAustralia auspol ausvotes ausvotes19 ausvotes2019 sausagesizzle democracysausage

Selling away our culture for a quick buck. Very soon there will be no Australia as such. Just a land of unconnected ethnic enclaves and ghettos!

by moving to upper class areas?

Let the market correct itself, why do we keep artificially inflating growth with immigration?

So per capita growth is no longer a thing? You were spruiking that against the Federal Government.

Please

newcomers might be good to buy new units n furniture BUT do they have IT/tech skills that we need in d age of automation Rio &woolies r using automation We r importing too many duds who ended up driving Uber n running Chatime n cafes Degree fr Asia&poor Eng so no tech jobs

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