As celebrations for this year’s A level results continue, new research indicates that university students are becoming increasingly selective about their accommodation.
Students are favouring a higher standard of accommodation according to Savills, with this year’s intake looking for properties that offer high quality and value for money options.
In the 2014 Student Spotlight report, a move towards more modern and luxurious living has been highlighted as students increasingly turn away from the traditional student ‘digs’ and towards more sophisticated accommodation.
Developments with individual studio apartments that come complete with en-suite shower rooms and kitchenettes are becoming more popular with students. These purpose built student accommodation blocks also provide extensive communal facilities far beyond traditional student properties, with facilities such as gyms, cinemas and games rooms available on site.
This shift in the demand from students has been keenly felt by the property investment market, as purchasers look to the asset class. With many of the UK’s university towns and cities experiencing a large undersupply of accommodation, student property has grown to become the best performing asset class in the UK market.
Earlier this year, it was predicted that the student sector could grow to a new record high of £2.5bn worth of investment by the end of 2014.