The final report recommends that universities should have strategies in place for housing international students to alleviate pressure on the private rental market.
Student Accommodation Council Executive Director Torie Brown said purpose-built student accommodation provides vital housing specifically for students and is a growth asset in the Australian property sector.
“The fastest way to add much-needed student housing to the market is for universities to partner directly with the purpose-built student accommodation sector,” Ms Brown said.
“PBSA has a crucial role to play in providing safe, high amenity housing for students who are a vital source of life for our CBDs. The sector takes nearly 80,00 students out of the general rental market each year
“We were pleased to see the Accord mention the important role PBSA plays in the market, and we would like to work with the Government to grow the pipeline of supply going forwards,” she said.
However, the Student Accommodation Council also cautioned Universities from passing the proposed tax on fully to international students.
“Any tax on university revenue is also a tax on international students – who are one of the biggest revenue sources for the higher education sector,” Ms Brown said.
“International students are already spending upwards of $30,000 per year to study at a top Australian university. We urge universities not to pass this tax on to international students, which may cause them to consider more affordable countries to study in.
“We produced a report in 2022 which showed students living in PBSA spend on average $4,800 in Melbourne and $4,680 in Sydney per month on eating out, recreation and retail. The economic impact of having these students in our CBDs is huge – we cannot afford to lose them to competitor jurisdictions like Canada and the US.
“Australia is already a high-cost jurisdiction for international students – if these taxes get passed on through university fees, we will begin to degrade our competitive edge in the global marketplace,” she said.
