Migrant Homes are more in demand with the immigrant population growing steadily day by day. The Australian Housing Industry Association (HIA) states that there will be an additional requirement of one million homes in the next five years. To be more exact, around one hundred and ninety thousand new homes are needed in the current financial year. This is forty thousand more than the normal production rate. More homes are needed to solve the crisis. The rise in the immigrant population is the major reason for the rise in the home requirements in Australia. The housing industry is struggling to satisfy the demands. This is also instrumental in raising the housing demand. Banks are flexible in offering loans to migrant population and thereby more number of migrants will be shifting from short term accommodation to permanent residence. The bank guidelines are friendlier towards immigrants. All they need is a bank account, address details, a decent deposit in the bank and a good credit score. A credit score cannot be built immediately and previous credit scores in another country is invalid in Australia. Building a credit score is very vital for a migrant home loan.

The more the houses the lesser will be the price. Therefore, the housing community should build more houses to accommodate the growing demands. The house price is very high in Australia because of shortage of houses. Even rentals are high and people are shifting from expensive rentals to cheaper rentals to meet their household expenses. The only answer to the problem is more homes. The construction cost also is up resulting in fewer houses every year. This increase in construction cost is only aggravating the problem further. Migrant population does not necessarily mean people who have come in search of employment, there are people who come to Australia to spend their retirement life and even some invest in properties, as they bring profits in the form of rentalse. The vast expanse of land has made it suitable for investment. The migrant population are always on the look out for houses either for rent or for purchase. With loans readily available migrant homes sell faster.

The government of Australia has made encouraging laws in the migrant home programs, but with more and more immigrants entering Australia, it is felt that more changes are needed to accommodate these new comers. The Australian Banks need to amend their rules to be of service to migrant population. Migrants do not think of buying a property immediately they land in a new country. They need to analyse the condition first and see if it is suitable for them. They should select the right locality before deciding to purchase a house. They should invest in a home only if they are financially sound. Migrant homes can be acquired easily with right guidance and help.