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00:00This is Australia, the 6th largest country in the world in terms of area, which is currently facing a very big crisis.
00:07Now, Australia is one of the richest countries in the world, where salaries and standard of living are much higher than many developed countries in the world.
00:17But this country is slowly getting stuck in such a problem that can be a big headache for it in the coming times.
00:26By the way, Australia is famous all over the world for its wildlife and beautiful coastline.
00:31There are many species of kangaroos, pythons and snakes that are found only in Australia.
00:37Anyway, I know Australia only because of its cricket team.
00:40Steve Waugh, Ricky Ponting, Glenn McGrath, Andrew Simmons, Glenn Maxwell.
00:45For me, Australia was just these cricket players.
00:47I didn't even know where Australia was and who these people were.
00:52But Australia is very famous in the world for one more thing.
00:55And that is its strange geography.
00:58Australia is the only country in the world that is completely disconnected from the rest of the world in the south of the Indian Ocean, which is also a continent.
01:06If we look at the map of Australia, one thing seems very obvious that Australia has about 90% of the area on the desert.
01:14And that's why 85% of Australia's population lives on the Australian coastline.
01:19So if you look at it, about 85-90% of Australia is completely empty.
01:2575% of Australia's population lives in Sydney, Melbourne and Brisbane, and these three cities are on the Australian coastline.
01:34To understand this population pattern of Australia, we have to go into history.
01:38Because Australia has been nameless throughout human history.
01:42And a Dutchman named William Jain discovered it for the first time in 1606
01:48when he was returning from Indonesia with trade goods and on the way, his ship came here to Timor Sea due to a sea storm and he saw an island far away.
02:00This was Australia.
02:01William went back and told everyone about this island.
02:04And then in 1770, the British explorer Captain James Cook set out on this journey with a few of his companions and stopped at Botany Bay on the eastern side of Australia.
02:15When he and his companions landed here, they had a fierce fight with their local people and Captain Cook had to run back.
02:24Then 8 years later, Captain Arthur Philip came here with 300 people on 11 ships and he took over this coastline.
02:33After bringing this part under British control, they tried to discover the western side of Australia.
02:40But due to the hot weather and the heat of thirst in the desert, many of his companions were killed and they had to come back.
02:48Australia became famous in 1851 when a village called Bathurst, 210 km from Sydney, discovered very large reserves of gold.
02:59In the next 20 years, 40% of the world's gold production began in Australia.
03:05All this gold would go to Britain from here and the British government used this gold to maintain the pound rate.
03:12These 20 years are called the years of gold rush.
03:16In these 20 years, millions of people from Europe and America came to Australia and settled.
03:21When this gold was discovered, the Australian population was 45,000,000 and 20 years later, in 1871, this population had reached 1.7 million.
03:33From 1871 to 1900, Australia was divided into these 6 colonies.
03:38Then in 1901, all these colonies were gathered and a country named Commonwealth State of Australia came on the world map.
03:46And after that, the journey of Australia's development began.
03:49At that time, no one was given immigration except white people in Australia and this remained the same for the next 60 years.
03:57Then finally, in 1967, the non-white immigration policy was abolished and the criteria for immigration was removed from skin color and skillset was set.
04:06After which thousands of people from Asia, Middle East and the Pacific began to settle in Australia.
04:13And to date, people from many cultures and countries are settling in Australia.
04:18And that's why Australia is now a multicultural country where you will find people of every race and religion.
04:25Today, Australia is the world's most friendly country and it is on the 8th place in the world in terms of quality of life.
04:33And that's why it is also a dream country for many people in South Asia.
04:38But Australia is getting stuck in a trap.
04:41Australia has come to the top of the list of the world's least affordable countries in the past few years.
04:47Three cities in Australia have come to the list of the top 10 unaffordable cities.
04:51Sydney is the second most expensive city in the world after Hong Kong.
04:55Its housing market has a very big role in making Australia unaffordable.
05:00After watching the video so far, you must be thinking that there is so much empty space in Australia, so it will be very affordable to buy a house here.
05:09But the reality is exactly the opposite.
05:11But before that, let me tell you a little bit about the Australian mentality.
05:16Wherever you are in the world, everyone wants to buy their own house.
05:20But for Australians, home is a national identity.
05:24In Australia, home is considered a sign of stability and happiness.
05:28Even today, 75% of Australians believe that having their own home is their top priority and dream.
05:34But this dream is slowly dying.
05:38And let me explain why I am saying this.
05:41In 1970, the average annual salary in Sydney was $4,200 and at that time the price of a normal house was around $18,700.
05:52By 2024, this average annual salary has reached $74,000, which is 17 times more than the 1970 salary.
06:02But on the other hand, today the average house price is $1.5 million, which is 80 times higher than the 1970s housing price.
06:12This means that now if you save your entire salary for the next 20 years, you will be able to buy a house with great difficulty.
06:20Because in 20 years, the price of the house will have gone up.
06:24And this is not only the case in Sydney, but in all the big Australian cities.
06:29Even people in Australia who are earning $1 lakh can afford only 13% of the houses.
06:36And even for these 13% houses, they have to take a lot of mortgage.
06:41And that's why Australian households have one of the largest debts in the world.
06:46And this situation is getting worse now.
06:49Because every year, 4 lakh people are being added to the Australian population.
06:54Australia's population growth is almost double that of Canada and the USA.
06:59The biggest reason for this population growth is immigration.
07:02Thousands of people come to Australia from China and South Asia every year.
07:06Some of these people become Australian nationals after years, but many people do not take nationality even after spending lakhs of rupees on degrees.
07:15And they do odd jobs and take admission in different small colleges and keep extending their visa.
07:22On the hope that at some point the points will be completed and they will get PR.
07:26But to accommodate so many immigrants, the demand for houses is much less than the supply.
07:33And because of the difference in supply and demand, the price of houses in Australia is on fire.
07:39Because 90% Australians live in these 4 cities.
07:43Although the whole land is empty in the middle, it is not worth anything to be grown there or to live there.
07:51That's why only these 3-4 cities are left for this growing population.
07:55Now because all jobs and universities are in these cities, immigrants and students also come to these cities.
08:03Now Australia has one option that it puts restrictions on immigration.
08:08But doing this will have a very bad effect on Australia's own economy.
08:12Because Australia's almost 17% economy is run by foreign students.
08:18These are the students who come to Australia to study so that they can complete their education and get a job and take PR.
08:25The fees of universities in Australia are very high.
08:28And with the same fees of students coming from India, Pakistan and China, Australia's economy gets a lot of boost.
08:35Secondly, Australia's own population is not enough to meet the industry requirements.
08:40And that's why it needs labor from outside.
08:43But such labor that speaks English well and has relevant skills.
08:49So in this case, Australia cannot reduce immigration.
08:52Yes, Australia has already made the policies very strict so that only qualified people can be given PR.
08:58In this case, when millions of people come to Australia every year, it will be very difficult to arrange their accommodation.
09:05Goa's Australia is now working on such plans through which dams will be built to this desert and water will be delivered.
09:12And farms will be grown here.
09:14But it will take many years to execute this plan.
09:18And by then, Australia will have to build houses for the immigrants coming to the cities on this coastline.
09:24And immigrants will have to tolerate high rents and high housing prices by then.
09:30Australia is truly an example of right planning.
09:33A country that was populated only 200 years ago is one of the world's top economies today.
09:38Let's see how Australia deals with this housing crisis.
09:42If you liked the video, be sure to like it and subscribe to the channel.
09:46See you in the next video with another interesting topic.
09:50Until then, take care of yourself. Allah Hafiz.