Property market on the up thanks to new student visa policy
The government recently announced that in just a couple of weeks, on 1 July 2016, there will be a series of significant changes being implemented into Australia’s student visa programme – starting with the fact that there will now only be one visa class, subclass 500.
The new programme is set to see much more relaxed immigration risk assessment guidelines. So relaxed the changes should introduce a much more streamlined process whereby three quarters of applications will be waved through in less than one month.
Meaning that from July 1, International students with the requisite funds or income and English language skills will be able to apply for the new visa; this includes Primary School student applicants (from the age six or above) and their guardians or family members.
These new changes will potentially result in a massive increase in the number of Primary School age Chinese students and their guardians, bringing with it a huge boost to Brisbane’s property market.
How so? Let us take a look at the facts, as per the latest ABS figures:
THE FACTS
- 59 percent of permanent settlers on Australian soil hailed from Asia in the year to April.
- Lower dollar drives tourist and other short-term arrivals to record highs, with 7.69 million short-term arrivals in the past year indicating a nine per cent increase since April 2015.
- Visitors from China, Taiwan and Hong Kong up by 21.2 per cent over the past year.
- Most short-term arrivals come for holidays (3.79 million), but more than two million now cite their main reason for travel as being visiting friends and family, thereby reinforcing the Asian connections.
- 489,900 education arrivals over the past year alone – that is a huge 17 per cent increase!
And thanks to the streamlining of visa rules from 1 July 2016 the number of international students will likely begin to flow more freely. It's a trend that is being reflected right across Australia, including Brisbane, with the number of visitors from China, Taiwan and Hong Kong continuing to multiply at a record pace.
Whether you are for or against the government’s new streamlining of entry rules for international students, in terms of real estate, experts anticipate the change will boost our property market – especially when it comes to apartments.
Many saying that the soon-to-be record boom of international students will add up to a higher permanent residency intake – words every investor wants to hear, especially those with CBD apartments located near schools, colleges and universities, as well as other highly sought after education and training facilities.
Need help sourcing the right Brisbane property located near the best universities and with the potential for a strong growth? We can help! Call the HSBP team on 0419 782 133 to set up an appointment and discuss the options available.