Future of Student Accommodation
Students will receive their A-Level results on Thursday and securing accommodation in time for the new university term will be top of the agenda. With a huge demand for student housing across London, this is set to be another challenging year for the sector.
Despite the challenges posed by Covid-19 and its impact on international enrolments, UK purpose-built student accommodation (PBSA) has been “remarkably resilient”, according to Cushman & Wakefield. The market saw a net increase in beds delivered in 2020/21, and the development pipeline remains strong – clear signs of investor confidence and continued demand.
With the demand for London student accommodation at an all-time high, investors and developers are looking for innovative solutions to bring fresh ideas to this sector. A key focus is on creating community living experiences with shared spaces to encourage students from different universities and fields of study to connect, and develop a sense of camaraderie. Moreover, the growing importance of global students in many universities means that it is essential for developers to create flexible and adaptable living options that cater to these students.
The Future of Student Accommodation in London: Trends and Innovations
The trend for more communal experiences in student housing is also being driven by changing student expectations, with students now expecting a minimum level of facilities that includes high speed broadband, on-site customer service and social spaces. Private student apartments such as The Lyra in North Acton are an ideal choice for those wanting to be able to make connections in their own space but also be able to take advantage of the community-focussed facilities on offer at this modern apartment complex.
As tightening supply puts a greater emphasis on students finding their own student accommodation london, universities will need to re-interpret their role in the provision of student accommodation. Traditionally, universities would provide a guaranteed commitment to students – sometimes referred to as an institutional guarantee – which was intended to support students who could not otherwise find their own accommodation. This commitment was based on the recognition that it is important for students to be able to settle into university life, and it was often an integral part of the overall package offered by universities to students.
Another crucial aspect of student accommodation is the convenience it provides. Most student accommodations are strategically located near educational institutions, ensuring easy access to campus facilities and reducing commuting time. This proximity helps students manage their time efficiently, allowing them to devote more hours to studying, extracurricular activities, and personal growth.
Affordability is a significant factor when it comes to student accommodation. Universities and private providers understand the financial constraints that students often face and strive to offer a range of pricing options to accommodate different budgets. Transparent pricing structures, flexible payment plans, and potential financial aid opportunities help make accommodation more accessible and affordable for students. By addressing financial concerns, accommodation providers ensure that students can focus on their studies and make the most of their college experience.
A vibrant social environment is crucial for students’ personal growth. Accommodations that organize social events and foster a sense of community help students build friendships, expand their networks, and engage in a diverse range of experiences.
In addition to privacy, ensuite bathrooms offer a great deal of convenience. Students no longer have to wait in line or schedule their bathroom usage around others. With their own private facilities, students can manage their time efficiently, avoiding any potential conflicts or inconveniences. Whether it’s getting ready for class in the morning or preparing for an important event, having an ensuite bathroom eliminates the need to coordinate schedules with other residents and provides students with the freedom to use the facilities whenever they need.
Furthermore, ensuite bathrooms contribute to a higher level of cleanliness and hygiene. With shared communal bathrooms, there is always a concern about cleanliness and the potential spread of germs. By having their own private bathroom, students can maintain a higher standard of cleanliness, as they are responsible for the upkeep and cleanliness of their own facilities. This not only promotes a healthier living environment but also gives students peace of mind knowing that they are the only ones using the facilities.
As a result of the tightening supply, it is likely that some universities will reduce their institutional commitments to PBSA and/or expand the scope of their schemes to include students entering through Clearing. This may also be accompanied by a reduction in the number of students accepted into full-time undergraduate courses. This is likely to have a significant impact on the supply of student housing in many major cities, and we anticipate that it will lead to increased competition for this stock in some areas. Those providing this type of accommodation should be prepared to focus on the higher end of the market, catering to students from overseas who are willing to pay premium rents for quality accommodation in prime locations. This will require creative approaches to construction and operation, including exploring modular construction methods and developing alternative room types.