New ABS data reveals that 110,000 new arrivals entered Australia in the March 2025 quarter—double pre-COVID averages. This wave of migration now accounts for three-quarters of the nation’s population growth, intensifying the rental squeeze. Vacancy rates are near historic lows, leaving many tenants struggling to find affordable homes. Experts warn that unless housing supply accelerates, the crisis will deepen, pushing more families into long-term rental insecurity.