National Housing Finance and Investment Corporation expects Australia's ...

How the COVID-19 pandemic will cause Australia's population to plunge for the first time since World War I - sparking fears of a 40 per cent collapse in house prices National Housing Finance and Investment Corporation predicts population fall  Australia's population was tipped to shrink by 0.8 per cent from 2019 to 2021  This would see the number of people decline by 214,000 without immigration  Only World War I and 1971 end of post-war baby boomer saw comparable plunge Reserve Bank of Australia already worried about 40 per cent house price drop 

By Stephen Johnson, Economics Reporter For Daily Mail Australia

Published: 00:56 BST, 21 September 2020 | Updated: 01:26 BST, 21 September 2020

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The coronavirus pandemic is expected to cause the steepest plunge in Australia's population since World War I - amid fears of a 40 per cent house price plummet.

The federal government's National Housing Finance and Investment Corporation is forecasting a 0.8 per cent population decline over two years.

In the absence of immigration, Australia's population was expected to fall by 214,000 between a peak in 2019 and a trough in 2021.

Half of that was attributed to the drop-off in international students, following the closure of Australia's national border in March.

The coronavirus pandemic is expected to cause the steepest plunge in the Australian population since World War I. The federal government's National Housing Finance and Investment Corporation is forecasting Australia's population will shrunk by 0.8 per cent over two years. Pictured is an empty Wynyard station in Sydney

The coronavirus pandemic is expected to cause the steepest plunge in the Australian population since World War I. The federal government's National Housing Finance and Investment Corporation is forecasting Australia's population will shrunk by 0.8 per cent over two years. Pictured is an empty Wynyard station in Sydney

'Immigration cuts have flow-on effects on population growth – temporary (international students) immigrants are the main driver of population growth,' the NHFIC report said.

Australia's immigration pause would spark the steepest population decrease since World War I, shortly before the Spanish flu pandemic in 1918 reached Australian shores.

Only the unwinding of the long post-war baby boom in 1971 saw a comparably

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