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Student Accommodation Construction Hits a 5-Year Record High

Posted by Ross Jones-Morris in

After a record breaking year of student accommodation investment in 2015, the combined value of projects currently in construction is now at a 5-year high.

Building contracts for 4,500 new beds were awarded in 2015 with a combined value of £2.3 billion. This represents a 26% increase in commissioned bedrooms over the previous year according to the construction intelligence firm Barbour ABI.

Barbour ABI's lead economist Michael Dall says, “Student housing has undergone a significant amount of change over recent years, with rising rental fees and a higher level of expectation from the occupying students."

“Universities and investors are behind a wave of more modern accommodation, with Wi-Fi to en-suites now becoming the norm as they attempt to attract prospecting students with high end living facilities. A wave of post-graduate accommodation has also come into play and I expect this to continue in 2016, as the majority of investors focused on bridging the gap for first year housing prior to 2015."

Image courtesy of Flickr, Creative Commons