One of Australia’s biggest property developers says Peter Dutton’s plan to slash permanent migration as a way to fix acute housing shortages will only make the problem worse, driving away desperately needed skilled migrants while damaging long-term productivity and economic growth.
“You cannot fix supply by reducing demand,” developer Tim Gurner told AFR Weekend, responding to the key policy announcement in the opposition leader’s budget reply speech.
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Tom McIlroy is the Financial Review's political correspondent, reporting from the federal press gallery at Parliament House. Connect with Tom on Twitter. Email Tom at thomas.mcilroy@afr.com
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
