In-coming overseas students set to surge and boost Inner City apartment market

Over the past two decades, national revenue generated by international students has become more and more lucrative. Then along came the pandemic, wrecking its havoc, with one of the big casualties 'economically speaking', this unexpected loss in revenue. At the end of 2021, Nick Reece, now Deputy Lord Mayor of Melbourne, called for a “massive wave of new immigrants to help get the city back on track” and this was equally true for Sydney. 

As if heeding Reece’s call, in recent months there has been a huge surge in approvals for international student visas, with the Australian Financial Review just reporting a massive increase in approvals for student visas from Nepal alone, with approvals running at an exceptionally high 85 per cent. And applications for visas from China and India, the two largest source countries for international students, are also very high. This news cannot have come at a better time for the real estate market and it is inevitable that history will repeat itself with the positive effect it will have on revenue. 

One of the key factors set to boost revenue is the vast numbers of students whose wealthy parents opt to purchase an apartment for their child, in addition to paying for a great education. The lure of real estate in our promised land cannot be underestimated, particularly as the global state of affairs makes Australia seem like a safe haven by comparison. And many of these parents are now looking for a good quality product by a reputable developer in suburbs where their child is enrolled. 

Even if not purchasing a property for their child, many parents look for luxury rental properties to create a desirable home away from home. And as the influx of students will substantially increase demand for the rentals close to campus, this additional renter demographic about to hit the market is great news for investors. 

Since the Covid-19 pandemic, the state of NSW, and Sydney in particular, lost $272.7million in international student revenue, and this included lost rental income due to the lack of international students. A report by real estate group, Juwai IQI, cited “Universities have lost hundreds of millions, but Australian landlords have lost an even larger share of foreign student rental income.” 

In summary, with interest rates rising and rental vacancy rates declining, once again as people move back to the City in droves post-pandemic, this student influx could be a further injection into the mix that will keep the market buoyant.

For outstanding apartments in locations close to universities and tertiary education campuses, check out Cramer’s must see properties below.

Wicks Place, Marrickville – close to Sydney University, UTS & Macquarie University via numerous public transport options (bus, train, metro)

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Surry Hills Village, Redfern – close to Sydney University, UTS & UNSW via numerous public transport options (bus, train, light rail)

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Flashback to 1983 and share a beer with Bob Hawke!

Picture the scene - it's March 1983 and Bob Hawke is now Prime Minister after a landslide victory for the Labour Party. You’re wearing tight Levis with a plaid shirt, and you’re heading to the flicks to watch BMX Bandits with up and coming Australian teen actress, Nicole Kidman.



After the movie you head to Marrickville to grab a beer and a Chinese meal but hang on a minute…. 80’s Marrickville? Well, not exactly, but it might as well be. In Marrickville’s latest eccentric venue, the Bob Hawke Beer & Leisure Centre, you’ll feel as though you’ve entered a time warp.





Over the last few years, Marrickville has become a destination location for craft breweries – with over a dozen independent brewers within walking distance. The newly opened Bob Hawke Leisure Centre raises the bar with concept, décor and overall coolness. So how did this unorthodox venue come about? Like so many of the best ideas, it came from daydreaming. Homesick Australians Nath and Dave were sitting in New York on a cold day, dreaming about drinking a beer in the sun. Wondering who they would most like to have a beer with, the answer led to the founding of a brewing company with Bob Hawke.



It's the soulfulness of The Bob Hawke Brewery & Leisure Centre that elevates it above the pack. By combining two old school Aussie favourites - a cold beer and a great Chinese restaurant – the venue successfully nails the retro 80’s vibe, creating a quirky destination where you’ll feel instantly at home. Every part of the 1,200sqm establishment pays homage to legendary Prime Minister Bob Hawke and 1980’s Australiana. The décor is imbued with a personal collection of treasures and memorabilia, and lavished with 80s design trends such as golden hues, clashing prints and low level lighting. The lounge area and pool room have even been modelled after Hawke’s own pool room at his Northbridge home.

Chinese restaurant, The Lucky Prawn, is a museum-like time capsule showcasing all that is kitsch. A quintessential reminder of 80’s era Aussie-Chinese joints that could be found all over the country, the space celebrates red and gold, wood veneer walls, smooth curved lines and ornate, thick pile carpets (salvaged from Petersham Town Hall for authenticity). And to add the icing on the cake, this is a venue with a big heart. The boys donate a significant proportion of their brewery profits to Landcare and other environmental charities, so you’ll feel even better knowing that you’re helping save the planet when you frequent this soul-filled venue.

  

 

Close to this, and all the action of TimeOut’s top ten coolest hood in the world, is the Wicks Place village development located on Victoria Road Marrickville.



In this happening hub of creative spaces, cafés, parks, breweries, foodie destinations and so many more places to discover, you won’t find a cooler place to live. Check out Cramer’s phenomenal Wicks Place properties here:

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Call Cramer today to visit the showroom and learn more about Wicks Place, Marrickville today.