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Syrian refugees.....A boost to the housing market?

Discussion in 'Property Market Economics' started by hammer, 10th Sep, 2015.

  1. hammer

    hammer Well-Known Member

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    The Aussie property market is not all Sydney and Melbourne.

    Regional Australia, Adelaide, Darwin and Perth are well and truly on the decline.

    Could resettling a few thousand refugees in these dropping housing markets turn things around?

    Thoughts?
     
  2. Leo2413

    Leo2413 Well-Known Member Premium Member

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    hehe...:D no. Takes a lot more than a few thousand people to reverse/alter property cycles immediately.
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    Time to rush out & buy Harvey Norman shares.
     
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  4. jaybean

    jaybean Well-Known Member

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    How much money do you think these people are going to have? This type of immigration will boost rents at best I would think.
     
  5. hammer

    hammer Well-Known Member

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    Sure in a big city...but wouldn't 1000 refugees would make a big difference to a place such as Cairns, Townsville or Darwin? These are big enough cities to have the support networks in place for when they arrive and also would benefit from increased populations?
     
  6. 2FAST4U

    2FAST4U Well-Known Member

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    Centrelink money. They'll probably be provided public housing anyway.
     
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  7. Scott No Mates

    Scott No Mates Well-Known Member

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    They'll still want bedding, furniture etc
     
  8. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Perhaps if they put them all in 1 or 2 suburbs it would have a temporary impact on prices in those areas, but then I also suspect there will be many people who wont want to buy/rent in those suburbs either which would kill the demand aspect.

    Other factors that affect property cycles are:
    1. Unemployment
    2. Interest rates or fear of increase
    3. Consumer confidence (a big one)
    4. Finance availability (a big one)
    5 International factors.

    Just my opinion.
     
  9. York

    York Finance Broker Business Member

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    No money, no honey.
     
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  10. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    The refugees won't have any economic influence of their own, outside of costs to the tax payer. When they arrive, most refugees have little more than the clothes on their backs. Many have trouble finding work and often end up as long term unemployed.

    They won't try resettle a large number in a location small enough for it to have an effect on any market. Again it would have a disproportionate effect on local unemployment figures, as well as housing.
     
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  11. Bayview

    Bayview Well-Known Member

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    Refugees don't go to regional areas unless there is some specific incentive.

    They congregate in cities - at least; now this is the case..

    You could try sending them to the areas you are thinking of, but I'd wager they are in the cities within 2 years.

    There is a chance they will stay in cities such as Adelaide, Darwin and Perth I guess.
     
    Last edited: 10th Sep, 2015
  12. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    My grandparents were initially located in Daylesford in the 50s. A lot of Dutch immigrants were sent there. My Dads family fairly quickly moved to Ballarat where there was more employment prospects. My Mum's family went to Geelong where the new Shell refinery created a lot of prospects for people with a Dutch background.

    All three locations still have significant Dutch communities, but most people sent to Daylesford moved away. A huge number of Dutch immigrants ended up in Carnegie (I don't know why). Certainly many immigrants do tend to congregate in various locations, but they look for employment opportunities first.

    I've also noticed that a lot of immigrants end up becoming self employed. Certainly every one of my uncles (and most aunts) has been self employed at some point, most were reasonably successful. Most of my parents Dutch friends were also self employed, as were the parents of most of the first generation kids from other countries when I was at school.

    I can only speculate that perhaps language often acts as a barrier to easy entry to employment, alongside a strong desire to create a better life for themselves, rather than have someone else create it for them.
     
  13. Scott No Mates

    Scott No Mates Well-Known Member

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    From some of the tv snippets the other night, most of those interviewed could speak English, not some half@rst attempt at broken english but sufficiently intelligible.

    Maybe that's why we'll take some?
     
  14. York

    York Finance Broker Business Member

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    I visited some family in Adelaide few years ago and noticed alot if Dutch there. I don't know the stats but does Adelaide have a lot of Dutch people? The area I went to was Goolwa. I never saw so many Dutch people since the 2010 World Cup final!!;)
     
  15. 2FAST4U

    2FAST4U Well-Known Member

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    In the post WWII period the Dutch were the 3rd largest immigrant group in South Australia- behind Germany and Italy. There isn't an abnormally large amount.
    Here's some further reading if you're interested.
    http://australie.nlambassade.org/bi...mport/nieuws/invisible-immigrants-med-res.pdf
     
  16. York

    York Finance Broker Business Member

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  17. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    The Dutch, German, Italian and other immigration was essentially the upper middle class trying to avoid being taxed into oblivion by their own governments who where trying to recover from WWII. If you had a dollar in Europe in the 50s, the government wanted it.

    Not exactly fleeing for their lives like many of todays refugees, most post-war immigration that we read about today was out of Europe to Australia, the US and Canada to essentially build a better life for themselves.

    I can't recall when the '10 pound poms' fit in, perhaps the 60s? Many of them also felt isolated when the arrived and more than a few returned to the UK.

    In the late 70s and early 80s I remember talk about Vietnamese and Cambodian boat people descending as hoards. Like many of todays refugees, what they were running from was very real. Today their kids have integrated quite well in Australia and add a lot of diversity.

    It seems to me that every generation in Australia has its immigration and refugee challenges. A decade later it's all but forgotten as people settle in and find their place.
     
    Last edited: 10th Sep, 2015
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  18. Angel

    Angel Well-Known Member

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    What housing commission homes? Where? How many hundred thousand names are on waiting lists for public housing that doesn't exist and wont be built any time in the foreseeable future.
     
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  19. WestOz

    WestOz Well-Known Member

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    IMO these people come from barren desert lands yet unlike ourselves somehow manage to be self sufficient on/from it.

    If only Australia had such unused land these people could utilise as their new home/town.
     
  20. HUGH72

    HUGH72 Well-Known Member

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    I think they will be spread evenly around the country, no point dumping them all in Western Sydney. I hope the government gives them some help and training so we don't just create an underclass of people with no skills who are unemployable.