It is reported that in the past fiscal year 2022-23, 400,000 immigrants have entered Australia. Over the next five years, the government anticipates introducing 1.5 million immigrants. Additionally, due to personnel shortages in many critical industries, Australia continues to absorb immigrants. The influx of these immigrants is likely to further inundate the local housing market.

Tom Forrest, the CEO of Urban Taskforce, stated, "We have a dilemma where the federal government has increased the immigration cap, overseas students have returned, but the rental vacancy rate is less than 1%, and rents are going up."

Low rental vacancy rates and rising rents are both manifestations of the current market's supply-demand imbalance. If this situation persists, it will undoubtedly impact the living and lifestyle quality of new immigrants and have negative consequences for economic development.

To address this issue, the government and relevant authorities need to take proactive measures. First and foremost, attention should be given to the approval and construction of affordable housing to increase the supply of housing. Secondly, there should be a focus on implementing a "people-oriented" design philosophy and rapidly constructing housing that meets the needs of immigrants. Additionally, local governments need to intensify efforts to encourage and guide businesses to invest in the housing market, increasing rental and sales properties.

Immigration policies have always been a crucial tool in influencing Australia's housing market. In the early 2000s, a rapid increase in immigration numbers in Australia led to a significant surge in housing demand, resulting in simultaneous increases in property prices and rents. It is evident that immigration has a significant impact on the housing market.

However, besides immigration policies, central bank interest rate hikes, and other regulatory measures remain crucial factors affecting the development of the housing market. Currently, the Australian housing market is in a buyer's market, with a surplus of listed properties, providing buyers with ample choices.

Although the market for detached houses and apartments has cooled significantly, optimism about future housing supply trends should be cautious. Therefore, the government and central bank should closely monitor market changes and economic trends, adjusting policy measures promptly to ensure the stable development of the housing market.