Student accommodation is in crisis mode as the number of new visas being issued far outweigh the chronic level of low supply of available beds
Even though there has been a 7 per cent uplift in supply with new developments, more are needed to satisfy future needs, new data has revealed.The sector, valued at about $17 billion, was one of the hardest hit during the global pandemic when Australia closed its international borders and sent thousands of students home, leaving schools and universities as ghost towns.
“Amidst the widespread housing crisis, there is an acute shortage of dedicated student housing,” Cirson said. It shows that while Melbourne has the biggest stock of student apartments currently, Sydney has the most in the pipeline. The high demand has brought in an influx of capital, mainly from overseas investors who are happy to back an operator and get solid income return.
It has a further 12 buildings in planning and development which will bring the portfolio to 22,000 beds by 2024.
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