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Jones Lang LaSalle’s Research shows even with a pipeline of new developments anticipated to provide 6,000 bedrooms of new purpose built student housing, this will not meet the projected increase in demand over the next 3 years
SYDNEY, 7 JUNE 2013 – New Research by Jones Lang LaSalle shows the proportion of students in Sydney living in purpose built student accommodation continues to be low by global standards – at only 8% of all housing options currently, with a further 4% in the development pipeline.
The figures show that 3% of accommodation is direct let by private sector operators, while 5% is provided by Sydney Universities. But by far the overwhelming majority of accommodation (88%) is classed as at home living or in market rental accommodation.
Jones Lang LaSalle’s Director of Student Accommodation Services, Conal Newland said, “Compare this picture to where students in London live, which is a much more mature market in the provision of purpose built student accommodation, and we find that three times the amount of students there (21%) are living in purpose built accommodation. A further 7% is in the development pipeline.
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