CBA boss wants major cut to migration level to aid home affordability

Labor does not have a migration target. Comyn acknowledged having an ambitious or aspirational target “may at times be politically unwise” but said it was ultimately a good thing. “I think having a target is important,” he said. Increasing supply is also key to improving housing affordability, Comyn said, but noted there were barriers to doing so. “You need a lot of coordination between the federal and the state level,” he said. “I think the availability of labour, of skilled labour in and around multiple sectors, including this one, is challenged.” Comyn, who heads the nation’s largest provider of mortgages, said growth in housing credit probably also needs to slow from its current level, noting it was growing at 6 per cent annually at present, and at a faster rate among investors.