- Rents rising across 95% of UK student accommodation sector (Knight Frank)
- Supply of top end accommodation struggling to keep up with demand (Collegiate AC)
- Bristol students representative of UK-wide trend of spiralling demand (Fusion Students)
Providers of extraordinary residences, Fusion Students is reporting record levels of demand for top-end student accommodation in Bristol for the 2017/18 academic year.
The luxurious, design-led Fusion Tower, which has 483 beds, has been 100% booked since June for the coming academic year, despite A-level results day still weeks away.
The demand comes at a time of rising rents across 95% of the UK student accommodation sector, according to Knight Frank’s Student Property Index.
“Demand for accommodation in Bristol for the 2017/18 academic year really has been exceptional. Many students plan to secure their accommodation over the summer holiday period, but it seems that the appeal of the high-end market in Bristol has become so well known that more and more students this year have felt the need to ‘get in early’ to secure the best digs.”
Warren Rosenberg, Co-Founder, Fusion Students
Opened just a year ago in July 2016, Fusion Tower offers premium accommodation to almost 500 students. The sleek, spacious studio apartments are backed up by a host of luxury facilities including a private gym, gaming rooms, in-house cinema, open study rooms and pioneering social spaces. All in the heart of Bristol city centre.
It is this overall lifestyle that contemporary students are buying into. They are seeking out the full experience of university and looking to be at the heart of the action in their chosen city, all based in accommodation that is increasingly spacious and fully featured.
Knight Frank’s research shows that rents for en-suite student accommodation are rising faster than for all other types, up 2.75% for the coming academic year.
“Student accommodation used to be about having somewhere to rest your head and little more. The difference nowadays couldn’t be starker. Students want homes where they can relax and enjoy spending time, with the space and facilities to cook and entertain when they feel like it.
“They are also seeking out luxury touches like on-site cinemas and gyms, all within the building for ultimate ease of accessibility. It’s about making every moment of the university experience count.”
Adam Horwood, Head of Marketing, Fusion Students
Demand for purpose built student accommodation (PBSA) like Fusion Tower in Bristol mirrors the situation being experienced in many cities across the UK.
Data from Knight Frank shows that £8.2 billion has been invested in the UK PBSA sector over the course of 2015 and 2016 in order to meet this demand.
However, the situation in Bristol demonstrates how far ahead of supply demand remains at present when it comes to top-end student homes.
“Fusion Tower has been a huge success with students in Bristol since its launch last year. We believe our popularity is down to the fact that we offer our students the best environment to thrive with a high standard of onsite facilities and accommodation. We were the first large scheme in Bristol to be fully booked and we are looking forward to beating this record next year.”
Warren Rosenberg, Co-Founder of Fusion Students
Despite UCAS figures showing that UK student university applications are down by 4% this year, numbers remain robust enough to put pressure on cities when it comes to the housing that’s available. It’s an issue that Collegiate AC, the managing agent of Fusion Tower, is all too familiar with.
“Demand for purpose built student accommodation, particularly at the top end of the market, has been far ahead of supply in almost all UK cities for many years now. While a dip in student numbers will ease the pressure on providers slightly, there’s still a long way to go until the housing demands of all students can be met appropriately.”
Heriberto Cuanalo, CEO, Collegiate AC