With the enthusiastic blessings of the anti-Australian Labor Party, the international students continue to flood in. While there is a crippling rental crisis and record homelessness, Australia is now the top destination for international students, primarily from China. There were around 654,870 student visa holders in Australia in July 2023, and it is forecasted to reach up to 750,000 by the end of the year. As almost all of these students will be taken in a permanent residents, doing the back of the envelope calculations, it will only be a decade or so before whites are a minority in this country, with these expanding rates. Then immigration will really kick over as their members take over the Labor Party, and what was once Australia becomes a formal colony of communist China.
In the shorter term, the Labor Party’s immigration for this year has meant that a population the size of Newcastle, of 400,000, is seeking accommodation and vacancy rates are around 1 percent. This is great for Labor’s buddies in the real estate business, but a disaster for local Aussies, as the streets fill with the homeless. Why people have not yet taken to protest in these streets is a mystery, but hopefully a crushing No vote in the Voice referendum will start to undermine the regime of Albo. Sure, he will be replaced by more of the same, but this will get the ball rolling.
“REA Group’s Economist Anne Flaherty warned that Australia’s housing crisis is “only going to get worse” as demand from strong immigration continues to far outrun housing construction.
“Over August we did see approvals increase by 7%. But compared to 12 months earlier they were actually down over 20%”, Flaherty told Sky News Business Editor Ross Greenwood.
“This is really problematic if you think about the fact that our population is growing so rapidly”.
“We know that over the 12 months to March, our population increased by 563,000 people. So, unless approvals pick up the issues, we’re seeing with undersupply at the moment are only going to get worse”.
“Unfortunately, building approvals are your best-case scenario of how many homes are going to be developed. Because the reality is that just because a property is approved for development does not mean it is going to get off the ground”.
“We know that over the past few years, there have been projects that have been approved that just have no longer been feasible because of the increase in development costs”.
“This particularly is an issue in the unit market where we’ve seen a much more rapid slowdown in building commencements. The cranes are starting to disappear and that’s a sure sign that the building effort taking place in those capital cities is really starting to come off”.
“There are a lot of lead indicators suggest that development activity is unlikely to really pick up meaningfully anytime soon”.
In an interview with The Australian’s James Kirby, economist Saul Eslake has also explained why rents will remain high for years:
“This year’s immigration intake of around 400,000 means a city the size of Newcastle has effectively arrived looking for accommodation within the nation’s existing housing stock”.
“It’s the key reason rental incomes are soaring and vacancy rates are close to 1%”.
“Moreover, there is very little to suggest the scenario of demand greatly outweighing supply will change over the next three years”.
“As a result, the rental vacancy rates of 2023 can be expected to extend for several years”.
None of this is rocket science. The Albanese Government has stupidly engineered the nation’s largest ever immigration boom at the same time as capacity across the housing construction industry is constrained amid high materials and financing costs, labour shortages, and widespread insolvencies.
The situation for Australian renters will, therefore, worsen given housing construction rates are falling at the same time as the population will continue expanding at a rapid pace:
The upshot is that Australian rents will continue to rise much faster than wages for the foreseeable future.
As a result, more Australians will be driven into financial hardship, into group housing, or into homelessness.”
“New research has revealed why Australia has been called a world-class destination for international students, all while the country grapples with a ballooning rent crisis.
New research has revealed Australia has become the top study destination in the world, on par with Canada, all while the country grapples with a growing rental crisis.
The Emerging Futures 4 survey, conducted by global education specialists IDP Education two months ago, showed Australia’s ranking had increased two per cent in just five months since the last survey.
But more than a third of current international students surveyed (35 per cent) said their rental accommodation close to campus cost more than they had budgeted for.
Another third of respondents said they had rented far away from campus because it was more affordable.
Simon Emmett, chief executive at IDP Connect, said changes in perceptions and factors that students consider in their decision making show the top-four destinations should not rely on previous positive sentiment and high rankings.
“Policy changes, dynamic shifts within institutions and global economic conditions all have the power to affect a destination’s standings,” Mr Emmett said.
The figures come amid a ballooning rental crisis being faced across major Australian cities.
Last month, a Senate inquiry into the cost of living was told average rents in Perth had soared by 17 per cent since May 2022.
Average mortgages had increased by 50 per cent.
About a quarter of the 10,000 international students surveyed chose Australia as the first-choice destination for study.
The United Kingdom trailed both Australia and Canada with 22 per cent, and the US on just 19 per cent.
Students from Nepal, Vietnam and Indonesia were among the highest demographics rating Australia as their first choice for study.
Students’ perception of graduate employment options and post-study work policies were key factors for Australia’s rise in the ranks.
“Students continue to choose Australia for its high-quality of education and because it is a safe country for international students, with these factors seeing a 3.6 and 3 per cent increase respectively,” the report states.
The findings follow a recent Grattan Institute report finding only half of overseas students living in Australia managed to find work after graduating.
There were about 654,870 student visa holders in Australia in July this year – forecast to reach up to 750,000 by the end of the year.”