Or has this increase of Asian-Australian's in the area accumulated from the high amount of international asian students at the local uni?
I would be cautious about pinning too much hope on university campuses to help much, especially in outer suburban and rural areas. Higher education does not seem to be the growth area it was in the '80s and '90s where colleges became universities and there was a push to bring universities nearer to where the people were (especially in outer suburban and regional areas).
Multi-campus universities now seem to be consolidating their campuses to their larger facilities in the CBD, inner and middle suburbs. For instance VU closed down Sunbury and Melton. Swinburne got out of Lilydale. Monash University got out of Churchill by palming its campus there to the new Federation University formed out of the University of Ballarat. This is despite continued population growth in outer suburbs like Melton.
I don't know Monash's plans for Frankston, but it would be prudent to be aware of how that campus is performing, whether its enrolments are growing and the university's future plans for it before basing an investment decision (especially student accommodation) on its continuation.
Healthcare is the other area that investors seem to like because of its stability. Frankston has a collection of hospitals etc not far from the university. We used to think that though manufacturing went offshore, the service industries were safe. This may not be the case anymore with services also moving offshore.
Eg more people seem to be getting operations in cheaper countries. If a future government was to weaken Medicare was to be weakened and there was to be a return to private health, I can imagine there being new low-budget private health insurance funds that are affiliated with budget airlines and budget hospitals in Asia. The lower costs mean they bypass Australian surgeons for some operations and offer a cheaper premium for customers.
Aged care probably has a better future here. Although it depends on its wage structure. If we have a cheap (or what employers call 'flexible') labour market we can keep the low paid caring professions here (most likely with a Liberal government). Otherwise they may be able to get more compliant foreign workers in on 457 visas. Or if our low-end wages are higher (most likely with a Labor government) and we don't have 457s then our care costs will rise (the biggest component being labour). Our age care sector may be less competitive as a result.
Having said that those with no family ties (or are estranged from their families) may find their diminished superannuation dollars go further if they move to poorer countries. Such countries though need to be stable politically and have good health care along with excellent air connections to Australia. There could be an element of win win since Australians overseas aren't going to be using government funded health and community care services. The overseas countries gain through higher employment in their aged care sectors and services like food, travel and building.
