By the end of February there were some 323,299 international students back in Australia.
That equates to 73 per cent of the 444,905 visa holders, with 121,206 still located outside Australia.
Broken down by citizenship, it's clear that while Indian students have largely returned, 77,366 Chinese students are still outside the country.
That's 59 per cent of Chinese student visa holders.
This looks likely to add further pressure on rental markets, as are the recent floods.
SQM Research will report vacancy rates declining to fresh 16-year lows later in the week.
