Welcome to Cushman & Wakefield's UK Student Accommodation Report, where we bring you the latest and most comprehensive insights on the student accommodation sector in the United Kingdom. Our report is not just an overview of statistics; it's a deep dive into the dynamics of the student housing market, addressing key challenges and opportunities.
Key Headlines Include :
Unprecedented Demand for Student Accommodation:
- Nationally, the demand for student accommodation stands at a staggering 1,489,110 students.
- 96.4% of students seek housing during their academic journey across 74 different locations in the UK.
- Despite the demand, the net increase in beds for the 2023/24 academic year is just 8,760, highlighting a pressing need for more accommodation options.
- Seven locations have emerged as hubs, hosting over 15,000 international students, solidifying the UK's position as a global education destination.
- The national average student-to-bed ratio stands at 2.1:1, emphasising the continued need for additional accommodation units.
Rental Price Surge:
- The 2023/24 academic year has seen record-high rental growth of 8.02%, with the private sector experiencing even more significant growth at 9.39%.
- Glasgow leads with over 19% private sector rental growth.
- The average annual private sector rent outside London now stands at £7,632.55, equivalent to 77% of the maximum Student Maintenance Loan amount.
- Cardiff is currently the most affordable location for student accommodation in the UK.
- Our report takes a closer look into the impact of new building regulations on new Purpose-Built Student Accommodation (PBSA).
Our UK Student Accommodation Report is your gateway to understanding the ever-evolving landscape of student housing. Whether you are an investor, developer, or higher education institution, these insights are invaluable for making informed decisions.
Download the report to find out more about the student accommodation sector. If you would like to discuss any aspect of the report findings, please contact a member of our student accommodation team.