April 18th, 2017Student Accommodation News
A report from leading industry analysts Universities UK has predicted a significant increase in the number of people choosing to undertake a degree apprenticeship in England over the future.
The degree apprenticeship was introduced in 2015 and enables apprentices to split their time equally between the university and the workplace. The aim is for students to gain the advantages of both learning environments, better preparing them for the workplace at the same time as giving them a solid theoretical grounding.
The degree apprenticeship has certainly been embraced by the industry with giants such as Nestlé, IBM, Mercedes-Benz and Airbus among those who offer the courses. With support from such big names it is no surprise that an increase in uptake of more than 650% is expected. A good job mixed with a good education is an attractive prospect to students.
One of the great benefits of the degree apprenticeship is that students’ fees are paid for by the employer – an investment into a highly skilled future employee – which allows both the university and the student to be more flexible as the divide between academic courses and vocational ones is slowly eroded.
And of course, flexibility is the order of the day when it comes to attending university in the modern day. As the cost continues to climb it is understandable that students will ask for more than they have been able to have before in all areas of their high education experience.
The student housing sector is a fantastic example of this principle in action.
Traditional university halls have been going up in price along with the cost of the tuition itself and have reached the point where they have lost their main advantage over private accommodation – low cost.
While halls may have earned a reputation as being somewhat unpleasant accommodation in many cases, they were at least always able to fall back on the fact that they were mostly cheap and well-located near universities. Now that the cost is going up students are looking elsewhere and they like what they see.
The new generation of Purpose-Built Student Accommodation (PBSA) developments offer a service far and away better than anything which traditional universities can. On-site facilities such as gymnasiums, game rooms and cinemas give PBSA a clear edge over the competition. These new developments are even built in convenient places for students tenants, often next to or even on the university campus. Private developers can afford to build on the best land and it is no surprise that students are flocking to their development.
If all this is available at a similar price to old fashioned halls of residence then it really is no surprise that many students, and especially international students looking for comfort far away from home, are turning the PBSA. As every aspect of university life becomes more flexible then this trend should continue.
Investors looking at the student accommodation sector should certainly see it as a long term investment. Looking for advice on investing? Get in touch with our expert consultants and look for your perfect investment today!