‘Student’ suburbs struggle to shake off COVID impact
By Bianca Dabu
15 April 2021
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1 minute read
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Suburbs located in close proximity to universities are struggling to keep up with the rising property market, new figures have revealed.
Government support and record-low rates have supported the recovery of the Australian economy, resulting in significant growth in property prices even amid a year plagued by the pandemic.
However, the growth was not universal, according to REA Insights economist Anne Flaherty.
Border restrictions have resulted in a 39.8 per cent decline in visas granted, and with international students on a decline, some suburbs are facing plummeting demand, Ms Flaherty noted.
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