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Shortage of affordable student housing as international students return: report
The student housing market is surging post pandemic with an annual growth rate of 17% and an estimated value of $10bn, a new report has said.
The University Living report found as the international market returned there was a shortage of affordable student accommodation in Australia, fuelled by soaring rent prices and rising living expenses.
There were 613,217 international students studying in Australia as of March 2023, a 27% increase on the same time last year.
The report estimated there were around 60,000 beds available on-campus at Australia’s universities, and a further 90,000 beds in the purpose built market, led by players including UniLodge, Scape, Campus Living Villages and Iglu.
A Guardian Australia investigation highlighted the worsening accommodation situation for international students “ripe for exploitation”, including crowded and unclean living spaces and rental costs in excess of the private market.
The report recommended universities partner with local businesses to expand student housing, including “vacant office buildings, hotels, motels, and bed and breakfasts”.
University property sell-offs heighten ‘dire’ housing shortage as students return to AustraliaRead moreUpdated at 19.20 EDT20m ago19.02 EDT
RBA done with its interest rate increases? Don’t take that to the bank
In the wash-up from yesterday’s Reserve Bank decision to leave the cash rate on hold, more than a few are willing to call the cycle of increases over.
The Commonwealth Bank was one institution to predict the central bank would lift the cash rate yesterday. When they didn’t, the CBA decided the peak rate has probably been reached.
“It would take an upside surprise to the economic data from here, namely on prices and/or wages, for the RBA to shift its assessment of the outlook,” Belinda Allen, a CBA senior economist, said.
Upside surprises (such as the jobs data for most months of late) are not uncommon, and it’s worth keeping in mind that July’s CPI could be quite spiky (look at your insurance premium or energy bill).
As we note this comment piece, there are a couple of shocks that might nudge the RBA back onto the field:
RBA rate rises are like the Matildas’ fortunes – improving but with further challenges aheadRead more
It’s only one day but there is a bit of a sell-off…
2023-08-01 18:13:48
Article from www.theguardian.com
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