Residential property markets will feel the flow-on effects of a Government decision to increase the permanent migration intake to 195,000 people per year.

The increase from 160,000 people a year before the pandemic is expected to put increased pressure on the already-strained housing market.

Rents are tipped to increase and some analysts believe there will be another surge of property price growth on the back of increased demand.

According to the Anglicare Rental Affordability Snapshot, the situation is already dire for renters.

It says only five of the 45,000 properties recently available for rent were affordable for a single person on Jobseeker.

Less than 1% of rentals are vacant nationwide, the lowest on record.

Everybody’s Home spokesperson Kate Colvin says while migration may be needed to fill jobs it will increase the number of people struggling to find a rental home.

“Government needs a plan to rapidly deliver the affordable rentals needed to house any uplift in population,” she says.