Rush of new arrivals
It's only a matter of time now before the stories begin emerging about a lack of suitable rentals around the country, with investor credit never having been more difficult to obtain.
It's already happening for houses in parts of Melbourne, Canberra, and Hobart, but I expect this will become a more widespread issue in 2019.
In 2018 permanent and long-term arrivals ripped to 832,560, just as the supply pipeline is shrinking.
That's an increase of 17 per cent from three years earlier.
Investors in established housing have also dried up significantly on tighter mortgage regulation.
There was also a comfortable record high for short term arrivals in 2018, at 9¼ million, despite a bit of a slowdown in the pace of growth.
Visitors are becoming less keen on identifying themselves as tourists, and more keen on advising that they're 'visiting friends or relatives'.
One big happy Aussie family!
All-important wages figures are due out tomorrow morning.
Analysis to follow then.