Amber Beat: Student Accommodation Market News - August 2023, Week 04

About Amber Beat

Missed keeping track of all the latest happenings in the student accommodation market?Amber Beat is a weekly snapshot of the key developments in top student accommodation markets. This newsletter provides you with all the information you need to know, from new upcoming projects to current trends, news affecting students to government policies, we’ve got you covered!

Amber Beat | News from August 18- 25, 2023

United Kingdom

• Student rents soar 30% to £592 monthly amid cost-of-living pressure, NatWest data reveals; London tops list with average monthly rent of £840.30, followed by Bristol (£719.80) and Cambridge (£642.50) (MFG)
• PWC and StudentCrowd report: Projected cost of student accommodation to hit £19,706 for 2023-24, surpassing London maintenance loan cap of £13,022 (The Tab)
• NatWest reveals the top ten most affordable and expensive UK university towns: Bournemouth and Cardiff feature the cheapest rents, whereas Edinburgh and Glasgow have the higher cost of living (Timeout)
• Citylets data shows up to 100% rental rise in Scottish university towns; average market rent increase across Scotland at 11.4% (TN)
• NUS urges government action as nearly 1 in 8 students in Scotland grapple with homelessness due to almost full PBSA occupancy, pushing them towards sofa surfing (STV)
• Concerns rise as Stormont Department for Communities admits challenges in curbing over-provision of HMOs, echoed by Belfast councillors in North Belfast (Yahoo)
• Owners of “The Residence at St Columbas Close” in Coventry wish to avail one-third of student accommodation block to non-students amidst the surplus of empty rooms (BBC)
• South Gloucestershire Council approves 330-student nine-storey flats near UWE campus at Filton Retail Park (BBC)
• AP Apartments secures the uncertain future of Highgate student accommodation on Fraser Street by purchasing the property and opting to transform it into a top-tier student living experience (PJ)

United States of America

• 'Campus Village,' a new student housing complex, has opened its doors to USC students. It will house up to 1800 students and is the most extravagant student housing project in USC history, costing $240 million (WSPA)
• FAMU has announced the completion of two of its on-campus student housing projects. A $3.5 million investment was made to improve the interiors and kitchens of the apartments, which now house more than 700 FAMU students (WFSU)
• Fountain Residential Partners announces the completion of ‘The Flariton’, a 293-bed student housing facility serving the students of Louisiana State University. It is the first PBSA complex catering to LSU in the last six years (CO)
• San Jose State University is considering lodging students at the Hilton Hotel due to a dearth of accommodation options. The university is working on a proposal to rent 264 rooms for students as a full-time arrangement (NBC)
• The recommencement of student loans is anticipated to have a backlash on the US Housing market stability, resulting in making it more volatile (GBR)
• UC San Diego faces a severe housing shortage this fall, as they expect to set a new record in student intake. More than 2300 students are already on the waiting list for on-campus housing for the academic year starting from September 25th (CBS)
• Quinnipiac University first-year students assigned to lounges rather than uni dorms will receive a housing discount from the university (NHR)
• Community Leaders from California are against the changes made in this year’s budget and asking lawmakers to reconsider the changes made as they impose hurdles to building new affordable housing (SMDJ)
• Amid FAU’s student housing crisis, upperclassmen students found themselves contending with on-campus housing insecurities when received the waiting list mail in February. The students have still not received any relief as the housing shortage isn’t getting any better (UPO)

Australia

• Developer Pantex reveals plan for 296-bed student tower in Petrie, Queensland, addressing soaring demand near University of Sunshine Coast's expanding Moreton Bay Campus (UDP)
• Rising living costs in Australia force international students to choose between rent and mental health, creating complex challenges (AU)
• Australian student accommodation market faces supply shortfall as demand surges, only 8,000 PBSA rooms expected amidst growing international enrollments (HNR)

Europe

• Ireland’s Bohermore submitted a plan for student accommodation complex, offering 58 bed spaces across 11 apartments, awaiting decision by Galway City Council (QWD)
• Amidst Hawthorn Village student accommodation reopens for students, offering 102 beds in Castlebar, the housing crisis intensifies with only 27 properties available for rent in Mayo, Ireland (MN)
• Private Residence- Andy Student Living introduces 294 additional student rooms to address Braga's student housing shortage and enhance academic experience, official opening on September 6th in Portugal (CMO)
• Ireland considers emergency student accommodation fund, fee Reductions, and grant increases for budget, Minister Harris targets cost of education, proposed €440,000 fund to aid students in need of immediate accommodation support (IE)
• Iuav University of Venice in Itlay, plans 800 new student accommodation places, a 40% increase, collaboration with Venice Institutions aims to address housing shortage (LPW)
• Student accommodation crisis looms in Ireland, as universities face 30,000 applications for 16,189 beds, leaving thousands of students in dire housing shortage (IDI)

Canada

• The Government of Canada considers imposing a cap on international students to combat the housing crisis amid soaring costs (BBC)
• Non-profit organization "Adsum" expresses concerns over Halifax University's appeal for student housing assistance (CBC)
• Waterloo region students fall victim to rising rent scams amidst student housing availability struggles (CBC)
• An international student endures inconvenient and crowded living conditions in Toronto bungalow, files complaint to the city council (CTV)