Mike's Minute: We need to wake up more on immigration
In the past week we have been dealing with three houses currently for sale. They are what you would loosely call "high end" houses. As you wander around with the agent, the usual exchanges take place about size and quality and renovations and street and area, talk about the market, what's the vibe etc. But the question we always ask, is why are they selling? You ask that for a clue. Are they downsizing, what's changed, have they been there their whole lives or have they transferred? The three houses all had the same reason - they are leaving the country. This was not good because, as I expressed on the programme last week, I am finding the immigration figures depressing. I read over the weekend that suddenly universities in Australia are closing their book for internationals because they are inundated. We are not inundated. I read that the Anthony Albanese Government is under pressure on immigration because they promised to curb it. They haven't curbed it. One of the major reasons they haven't curbed it is because shedloads of us are bailing from New Zealand and arriving at their place and, given CER, there is nothing they can do. In the case of the three houses, one have their kids already ensconced in Australia and the parents are looking to join them and the other two families are off to Europe. That's good news for the agents because all three houses will sell. The issue after that is, who buys them? Our immigration figures will be a discussion of some angst sometime next year. Because as things stand, there is no sign of the departures easing but there is a very real sign of the arrivals stalling. The arrivals are mainly from India, Fiji, Indonesia and China. Culturally, the face of New Zealand is changing dramatically. As we learned last week, a bit over 1% of those arriving applied for a skilled visa. The rest, presumably, are baristas, chefs and construction workers. The demise of this country is alarmingly real. Most haven't woken up to it yet. The Government knows the problem and they are working hard to, at worst, stall it but, hopefully, to reverse it. But as we have said for years, the numbers don’t lie. And I can show you three houses for sale right now that tell you the trend is real. LISTEN ABOVESee omnystudio.com/listener for privacy information.