Sorry, I'm not buying this. The borders have been closed for nearly two years and laws were strengthened around the purchasing of property by foreigners years ago, so immigration could not possibly have had any impact on property prices during this pandemic period.
Look at the below table. Turkey, Slovakia, Russia, Poland are not countries, from my quick research, that are trying to lure lots of skilled migrants. Yet their property prices have soared.
I think you're in total and utter denial here. These property trends are not being driven by immigrants and if they are it would be at the very edge.
The very fact of the matter is corporate executives, company CEOs, high-income earners, and power couples (mostly white) are leveraging their improved cash flow, reduced expenditure as a result of being able to work from home and being banned from traveling, low interest rates, to snap up properties left, right and center.
These people think very, very highly of themselves and need to feel "safe" from the pandemic by buying bigger homes and several of them so they can escape to another state, the coast, or the interior in case of a lockdown.
Go visit Orange, Byron, Foster, Brisbane etc. They are full of white Sydneysiders who work at the likes of KPMG, the banks, and tech companies. Their high salaries are what's making property explode - not the guy from China or India who can't even immigrate to Australia and set up a bank account.
