The major driver of Australia’s rental shortage is not a surge in foreign students, but a sharp rise in households with spare rooms and home offices, experts say.
Already a subscriber?The major driver of Australia’s housing shortage is not a surge in foreign students, but a sharp rise in the number of households with spare rooms and home offices, experts say.would be capped at 270,000 next year
The decision followed months of pressure from the Coalition over the size of the migration intake, which hit a record 564,645 in the 12 months to September 2023 as international students and foreign workers flocked back to Australia after the end of pandemic-era border restrictions.cutting the permanent migration program
Housing costs consistently rank among the top issues of concern for voters in opinion polls, with advertised unit rentsAdvertisementBrendan Coates, the Grattan Institute’s housing and economic security program director, said international students had obviously added to housing demand given their sheer number, but he stressed they were not the main reason for the sharp rise in rents over the past couple of years.“Post-pandemic, people are working from home, and therefore demand more space.
More recently, average household size has started to creep higher as cost-of-living pressures force renters and people with mortgages to lease spare rooms or move in with family.While the increase in the foreign student population had undoubtedly added to rental demand, PropTrack housing analyst Paul Ryan agreed that the decline in household size during the pandemic had been the major driver of housing demand.
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