There is no pass or fail system in IELTS. Scores are expressed as bands from 0 (no attempt) to 9 (expert user). As the score is high, chances getting good university or PR are high.  Now days to maintain the quality of students required band level is being increased. Any score above 7 is considered as good. Overall score is an average of individual scores obtained in each module. You can have a look at other bands and its interpretation as given below