Student Housing Crisis to Continue for Coming Two Years, Claim Industry Sources

As the number of international students increases month on month around the world, student housing has become a very important aspect to look at when it comes to the global educational industry. The rising numbers of students flying to different countries for higher education have made it increasingly tough to balance the supply-demand facet of student housing. As the industry witnessed a 50% surge in rental guarantor applications over the last six months, the struggle for students when it comes to student accommodation abroad. The most challenging part here turns out to be fulfilling the student housing demand in cities with top-notch universities, such as Glasgow, Bristol, Manchester, and Durham. As finding the right student accommodation is a high-priority job for many students, it might seem daunting for many to find the right one near their university.

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The Housing Hand, a renter’s insurance company, states that there has been a 50% surge in rental guarantor applications in the past six months. The Housing Hand’s Head of Sales, James Maguire, also mentioned how the influx of students travelling around the world for better opportunities has elevated the challenge for them. They are struggling to meet the demand as the number of landlords in the market has decreased significantly. This has made the student housing demand go up, but the supply is nowhere in the picture due to various factors at play. Maguire also stated that students need to understand this demand and supply crux and lower their expectations when it comes to student accommodation. In the recent PBSA news, the PBSA sector has proved to be a good value within the industry given the current scenario of increasing cost of living. Although PBSA is a good alternative as they include all the bills and have other add-ons such as Gyms, storage options and parking, they are the most preferred student housing establishments around the globe by students, which means a high demand for which the supply falls short. They are proving to be the sailing boat for both the students and the industry giants to help them in the student housing crisis.

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Housing Hand has also warned the students to lower their expectations when it comes to finding rental homes in areas with high student populations. The problem here pertains to a higher student housing demand and a limited supply of such suitable accommodation alternatives. The only way out here is for the students to understand this imbalance and choose the available properties. This might result in students ending up with larger property space than they might even utilise, and some students might have to settle with smaller spaces. This situation impacts the student housing industry and influences the student crowd's overall functions within a city. The primary way for students to segregate student housing should be to know the location of their university and focus on finding an ideal student accommodation nearby. 

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The impact of these above-mentioned factors can be felt in full starting from next year. As the student flock flying to different cities around the world to attend diverse universities is on the rise at all times, the results of these would be felt by various industries, including the student housing industry. During this student housing crisis, individuals can also rely on property cancellations, which can be a ray of hope for them. Based on the recent trends and student housing news, it is anticipated that around 46% of the students starting next year will rely on private student accommodation. This actually shows a 6% rise in the shift, making it even more difficult to find the ideal student home near their universities. Therefore, it can be said that there will be a shortage given the dropping numbers of rental supply within the student housing industry and the increasing student housing demand in the market. 

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