International Student’s Impact on housing pressure and GDP
Australia is experiencing a large-scale housing crisis with rising inflation and an increasing population. Adding to the pressure is the ever-rising count of international students in the country. Currently, about 670,000 students are living in Australia and this number is an imminent factor in the growing demand for housing and cost of living pressures.
With this in consideration, it is easy to draw a line between the student population and the housing crisis, and many are asking if there should be a cap on international students living in the country.
Vicki Thomson is the CEO of Group of Eight, which comprises Australia’s top universities dedicated to the development of higher education. In a recent publication, Vicki and her colleagues at Go8 have stated that while International Students contribute to housing availability in certain segments of the market, they are not the key factor in the housing supply issue and that they in fact have a net positive impact on the Australian economy.
Vicki Thomson joined the Thursday Daily to unpack this issue further.