With a new academic year just getting underway; it makes a good time to reflect on the huge scale of student demand and how many live in purpose built student accommodation (PBSA) or in the wider private rental market (PRS).
Overall in the private rental sector, there are around 4.6 – 5 million households, this translates into to well over 9 million renters. Purpose built student accommodation is in addition to this.
There are 740,000 students living in the private rental sector, which equates to 8% of the market. There is a matching number of students living in PBSA, with an estimated 750,000 student beds.
It is clear to see how a growing PBSA sector has helped alleviate pressure on the private rental market. But with many factors affecting demand (overseas student visa regulations, cost of attending university and demographics) alongside varying supply dynamics (planning and availability of student accommodation) each city has different dynamics. Students can be a much higher proportion of the PRS.
The scale of student demand and the flow on for graduates moving into their first jobs in cities: always makes September the busiest month in the lettings market. Source: Dataloft by PriceHubble
Comments