Posted to The Age (23/12/2011) on 23/12/2011 at 2:44 PM (Not published by Newspaper)
Commenting on "Housing shortage bites as supply fails to keep"
http://theage.domain.com.au/real-estate-news/housing-shortage-bites-as-supply-fails-to-keep-up-20111221-1p55v.html
Thank you, Andrew Smith, for mentioning the Knight Student Visa Review. The international education industry has been damaged severely and the heyday is over. I was on three sides of the fence riding high from boom to bust, as a teacher/trainer, student, and student accommodation owner.
International students’ presence created service industries catering for this market niche; there was an increase in commercial properties used as campuses, groceries, cafes / restaurants, travel agencies, migration advisory and consultation offices, etc.
Many of the student accommodation properties had been sold at reduced prices recently. These properties are not just classed as an investment property, but also as a business concern. Generally speaking, a property leased to less than 4 separate tenants do not require a permit and is not classified as a student accommodation. Many houses, units and apartments including those at Dockland are leased to international students.
There are owners who shared their houses with international students by providing home-stay. This is essentially a tax-free income which helps to pay off the mortgage. The death of the industry has caused financial hardship for some of these property owners resulting in forgoing their properties.
Many policies of this Government are policies-on-the run, which have cost Australia dearly. I hope my comments do provide some insight about the education industry catering for the international students and how it impacts not only on the property market, but also other related service industries.
Commenting on "Housing shortage bites as supply fails to keep"
http://theage.domain.com.au/real-estate-news/housing-shortage-bites-as-supply-fails-to-keep-up-20111221-1p55v.html
Thank you, Andrew Smith, for mentioning the Knight Student Visa Review. The international education industry has been damaged severely and the heyday is over. I was on three sides of the fence riding high from boom to bust, as a teacher/trainer, student, and student accommodation owner.
International students’ presence created service industries catering for this market niche; there was an increase in commercial properties used as campuses, groceries, cafes / restaurants, travel agencies, migration advisory and consultation offices, etc.
Many of the student accommodation properties had been sold at reduced prices recently. These properties are not just classed as an investment property, but also as a business concern. Generally speaking, a property leased to less than 4 separate tenants do not require a permit and is not classified as a student accommodation. Many houses, units and apartments including those at Dockland are leased to international students.
There are owners who shared their houses with international students by providing home-stay. This is essentially a tax-free income which helps to pay off the mortgage. The death of the industry has caused financial hardship for some of these property owners resulting in forgoing their properties.
Many policies of this Government are policies-on-the run, which have cost Australia dearly. I hope my comments do provide some insight about the education industry catering for the international students and how it impacts not only on the property market, but also other related service industries.
