In the past few weeks record numbers of students have headed off to university and this will have a significant impact on many of the university towns and cities across the UK. Nearly 70% of students in England and Wales are based in urban areas with 21% of that number being in London.
Students are now making up a large percentage of city centre populations. Around 44% of the population growth in large city centres across England and Wales is because of students. This equates to around 25% of total city centre populations and in the large cities, this percentage is much higher.
All of this is having a huge impact on university campuses and the accommodation that is needed to house these students.
The volume of students in city centres is making planners think long and hard about the infrastructure that is needed to support them and this affects housing developments, transport links and public services. It also creates a huge demand for restaurants, bars, cafes and leisure facilities – all the things that attract students and young professionals to live in the heart of the city.
For property investors, city centres present a huge opportunity and at Barrows and Forrester Investments we have access to prime developments and purpose-built student accommodation projects that are forecast to deliver excellent returns on investment. Contact us now to find out more.