Immigration and Growth What does it mean for houses?

Hi ,Interested readers.

Today, I claim that Australia is a fast growing country. : With a high birth rate , due to the “Baby Bonus” and high net immigration . Such that Australia grows at close to a million people each two and a half years. This is high in both absolute and in percent terms. Surely, this must be good for the housing market. I argue that Australia is under building homes, given this high population growth rate.
Latest estimates are that home building is at the rate of 120,000 per annum, while nearly 180,000 are needed.Looks like a major shortfall to me!