Government

A new report by Treasury and Home Affairs says Australia's high immigration intake boosts economic growth, but the flow-on effects on infrastructure and housing must be carefully managed.

After a public outcry over plans to convert the historic Mulgoa estate into a cemetery, the New South Wales government has stepped in and bought Fernhill for $27.5 million.

Both the HIA and the Grattan Institute are calling for urgent government action on housing affordability.

"The Infrastructure Australia report has a refreshing honesty about the transformation that will occur in our big cities," says Property Council of Australia chief executive Ken Morrison.