Urbis: 40,000 new student beds in development in Australia

Urbis' latest Student Accommodation Benchmarks data, released today, reveals there are 40,000 new beds in development pipeline nationally. The Australian Government's mandate for public universities to increase student enrolments on the condition they also increase access to student accommodation is partly driving this growth. "In Q3 alone, we saw 3,000 approvals. Around 2,600 of those are in Inner Adelaide, while Perth experienced a surge in new applications. Melbourne also holds a significant number of projects in the approval stage," Clinton Ostwald, Partner at Urbis, said. "We're projecting approximately 7,500 completions in 2027 - indicating strong momentum in the years ahead." In partnership with the Student Accommodation Council and Property Council of Australia, Urbis' Student Accommodation Benchmarks is the first benchmarking tool that tracks the Australian student accommodation sector. Read more: https://lnkd.in/gA6igPR6 Alex Stuart Alaine Roff Mel Jones