Crashing rents deliver handy stimulus

Tuesday, 23 June 2020

Figures released last week by Victoria University’s Mitchell Institute revealed there were 30,291 fewer international students in Melbourne in 2020 compared to last year, and 29,815 fewer students in Sydney.

Juwai executive chairman Georg Chmiel said the company’s estimates showed that nationwide around $715 million of property-related income would be stripped from the Australian rental market in 2020 due to the absence of international tenants.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.