Tighter Student Caps Won’t Ease Rental Crunch
The Opposition’s Budget in Reply Speech reiterated its plan to impose “stricter caps on foreign students to relieve stress on rental markets”.
Research previously released by the Student Accommodation Council, reinforced by new UniSA findings last week, confirms no correlation between international students and rising rental costs.
The Opposition also signalled their intention to introduce a “Lower Immigration and More Homes for Australians Bill” as a first priority.
Student Accommodation Council Executive Director Torie Brown warned against international student migration being captured in the proposed legislation, given the vast majority of international students do not buy homes and are only in the country temporarily.
She said that regardless of the election outcome, the government should focus on unlocking more private-sector developed student housing, which offers professionally managed, student-only accommodation in the locations they prefer.
“The Opposition continues to link housing costs and availability with international students, a claim that has been debunked repeatedly,” Ms Brown said.
“International students only make up six per cent of the rental market in Australia.
“We welcome the opportunity to work with any government to support Australia’s vital international education sector and ensure student accommodation meets demand in the areas where students choose to live.”
A report previously produced with consultancy Mandala found the development of new purpose-built student accommodation (PBSA) had kept pace with the growth in international students. Since 2015 international student numbers have grown by 75 per cent while private PBSA beds have increased by 74 per cent.
“We would be better off focussing on increasing the supply of PBSA, which has already demonstrated an extraordinary ability to match the demand from international students,” Ms Brown said.
“Instead of stopping demand from international students we need to focus on delivering more homes across all quadrants of Australia’s housing market.”
https://www.propertycouncil.com.au/media-releases/stricter-caps-on-international-students-wont-relieve-rental-crisis