Australian Migration and Dwelling Prices

Publisher:
Asian Real Estate Society
Publication Type:
Conference Proceeding
Citation:
AsRES 19th INTERNATIONL CONFERENCE, 2014
Issue Date:
2014
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Residential dwelling prices have been increasing over the last few decades in Australia. Many empirical researches have demonstrated that population and demographics are the main factors of contributing to upward trend of dwelling prices. In Australia, migration plays an important role in the nation’s population growth and economic development. The Australian government currently receives overseas migrants from countries around the world every year on different schemes such as skilful migration, family reunion and so on. On average there are around 200,000 overseas migrants settling as permanent residents in Australia according to the migration data provided by the Australian Department of Immigration. This paper studies how new migrants contribute to demand shock and how much impact they have on the residential dwellings market. Yearly time series data will be collected from the Australian Bureau of Statistics and Australian Department of Immigration. Statistical models will be derived using the changes of dwelling prices as the dependent variables; and net migration, changes of household income and dwelling supplies as the independent variables. The research is considered important as it addresses the economic fundamental of demand and supply issues. The research findings also help to validate the Australian migration policies.
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