40,000 Chinese Students Needing Accommodation

With the Chinese government no longer prepared to accept university qualifications through at-home learning, tens of thousands of students are expected to arrive back in Australia for the start of school year.

The massive influx is tipped to push Australia further into rental crisis once an estimated 40,000 Chinese students arriving looking for accommodation.

NAB Markets Research head of economics Tapas Strickland says their arrival will have an immediate upward impact on rents, particularly in inner-city locations.

Property Council of Australia’s Torie Brown says student accommodation is already extremely tight.

“There are zero vacancies in some cities such as Brisbane, while other centres are filling up fast,” Brown says.

She says a lack of local investment in student accommodation has exacerbated the problem.

“We can’t get local investors into student accommodation,” she says. “The big super funds do not go near it, though they are willing to enter this area in other markets such as the UK and Canada.”