Harsh lessons ahead for Melbourne, Sydney property markets as student numbers cut
Melbourne's already hard-hit property market is likely to suffer the most from cuts to the numbers of international students, while there could be some rough seas ahead for the purpose-built student accommodation sector in Sydney.
International students make up only four per cent of Australia’s rental market but a reduction in their numbers could have major impacts in some parts of Sydney and Melbourne. (Image source: Shutterstock.com)
Rental markets of traditional student suburbs of inner Melbourne and Sydney — and purpose-built student accommodation investments — are likely to be hardest hit by planned government cuts to international student numbers.
The Albanese Government plans to cap new international students at 270,000 next year, in moves to curb record migration, ease housing pressures, and clamp down on “shonky” private colleges, it says.
The legislation, which is…
