Students urged to source accommodation as period of highest turnover looms
Students struggling to find rental accommodation in the private residential market are being encouraged to approach purpose-built student accommodation (PBSA) providers before the mid-year university break.
While private rental vacancy rates Australia-wide hover around one per cent, PBSA operators are now approaching the mid-year university break which sees the biggest turnover of residents from their buildings – leading to some vacancies as students return home, move out or finish their studies.
While tight rental markets, return to face-to-face learning and international borders reopening have seen buildings full since February, the mid-year university break sees rooms in student accommodation buildings open up briefly due to natural resident attrition.
There are currently 76,500 private PBSA beds Australia wide, which offer fixed price and all-inclusive leases – meaning residents aren’t stung by rising utility costs, internet prices or inflation once their lease is secured.
[An arm of the PCA, the] Student Accommodation Council Executive Director Torie Brown said there is a housing shortage Australia wide and unfortunately domestic and international students in every market are being impacted.
“The national rental vacancy rate in April was less than one per cent – the lowest point on record.
This means less share houses, less spare-rooms and fewer city apartments for students,” Ms Brown said (item continues below).
“Purpose-built student accommodation is professionally managed, regulated, has 24/7 security and support services and offers set rents that cover all your utilities.
It’s the perfect, safe and secure option for young people struggling in the private market.
“Now is the time to try and secure a room for semester two – with PBSA buildings seeing their biggest churn over the next month.
Don’t leave it too late, reach out to a student accommodation provider today,” she said.
Data produced by the Student Accommodation Council in October last year found a quarter of all residents in PBSA were domestic Australian students.
