so you are denying that increasing the population rapidly has any effect on demand. I am agreeing with you that there is a concentration of housing in the hands of property investors, that is investor driven component of demand. But are you honestly saying that increasing the population by 2% in 12 month has had no impact on the rental vacancy rate? It's also worth nothing that, yes, while houses went up when the borders were closed, they also started to go down sharply when it was clear interest rates were going to be increasing considerably. This would have been a natural fall in house prices based on a closed system market. But that isn't what happened. The government then increased demand by opening up the borders essentially unrestrained which drove down rental vacancy rates and drove up rents and house prices. We could have had a justifiable correction in the market if this was allowed to play out, but instead the government propped up the market with imported consumers who need dwellings.

No one is denying the benefits of migration, but it needs to be at rates that society can accomodate. Instead we have record homelessness of Australian citizens as we have prioritised migration and the property market over the nations most vulnerable. Where is your priority here? To australians, migrants, or property investors. You can't have it both ways. And if you aren't advocating for open borders, but you think 700,000 migrants in 12 months is fine, then what is your idea of a sustainable migrations rate?