I joined Juliette Saly on Ausbiz to discuss why Australia may be heading down the same path as Canada and New Zealand. Net overseas migration has nearly doubled from an average of 220,000 people per annum between 2007 and 2022 to around 423,000 per annum since May 2022, yet real Gross Domestic Product (GDP) per capita has been positive in only 4 of the past 15 quarters. We also discussed Australia’s weak productivity growth and whether population growth has been masking a slowing economy.

We discussed how this has led to growing pressure on housing affordability, cost of living and real disposable incomes, and the rise in support for parties such as One Nation. With three of the Big Four banks now expecting the next Reserve Bank of Australia (RBA) move to be down rather than up, markets are increasingly considering the possibility of rate cuts before year-end.

Tune in via Ausbiz here: Population to populism: Will Australian follow the Canada and NZ path?