We all know that the record deluge of international students is driving rents into the stratosphere, pushing Australians to live in tents.
Record net student arrivals.
A secondary impact is that the surge in international students will also help drive up house prices.
Over the weekend, a five-bedroom Californian bungalow in the Melbourne suburb of Canterbury sold $860,000 above reserve (to $5.11 million) to an international student on behalf of his parents.
“He was confident in his bidding and stayed in control”, agent Julian Badenach said.
“The family had an interest in getting a good property in the area and to move here themselves, they didn’t say if they would be moving straight away so it was important the house was in good condition”.
Badenach said the buyers were all “new to Australia” and seeking land for a luxury new home.
Why do our politicians allow foreign nationals to purchase our homes, pricing locals out of the market in the process?
When will our politicians represent the interests of voting Australians?
