CAPITAL WATCH ISSUE 1 2018

London is the UK’s largest student market and one of the most popular global education destinations - recently ranked 1st by QS in its Best Student Cities ranking for 2018. There are over 294,000 full- time and sandwich students studying at a Higher Education institution in the capital, and many thousands more studying specialist short courses or language programmes, leading to a huge demand pool for accommodation. L ondon remains a destination of choice for international students. Concerns over falls in international student interest have been unfounded, as students prioritise long-term value over short-term political risks, while the government’s recent announcement that EU students applying to begin courses in 2018 will still be able to obtain funding for the duration of their course should bolster student interest. Unlimited student recruitment has led to greater competition between universities, and an improvement in the facilities and services provided to students which can clearly be seen in the quality of student accommodation. Purpose Built Student Accommodation (PBSA) providers are now catering to a more discerning student body: operators now provide en suite rooms and superfast broadband as standard, with higher-end accommodation providing swimming pools, state-of-the-art cinema rooms and sky lounges to their residents. There are currently some 80,000 PBSA beds in London, with 57% provided by the private sector. Cushman & Wakefield research shows the current demand pool (students in need of accommodation) to bed ratio is some 2.4 students to 1 bed in London, compared to 2 students per 1 bed as a national average - highlighting the By Paddy Allen, Partner, Student Accommodation paddy.allen @cushwake.com ALTERNATIVES Student accommodation CUSHMAN & WAKEFIELD 13 ALTERNATIVES