Overview
- Appearing before a parliamentary committee, Commonwealth Bank CEO Matt Comyn said a predictable level around 180,000 a year would help governments plan housing and infrastructure.
- The figure aligns with the 185,000 permanent migration cap, while net overseas migration was about 316,000 in the year to March 2025.
- Treasury forecasts net overseas migration will fall to roughly 260,000 this financial year and about 225,000 in coming years.
- The opposition is developing a policy to cut migration by about 100,000, with debate focusing on international students and parts of the skilled stream.
- Comyn also warned housing credit growth near 6% annually likely needs to slow, underscoring that migration is only one driver of affordability pressures.