Strategies for marketing in high competition cities
A closer look at supply and demand
While many perceive a crisis in student accommodation, the reality paints a more detailed picture. Cities like Newcastle, Sheffield, and Glasgow show varying trends. The balance between supply and demand remains intricate, with a sharp drop in beds delivered in 2023 versus 2019. Yet, the demand keeps surging. Approximately 30% of students currently opt to stay at home, a number set to grow with rising application volumes from domestic students and the cost-of-living crisis. By 2030, a spike in higher education applicants foretells an intensified accommodation demand.
The data analytics, reveals differences. About 40% of pipeline beds cater to a product traditionally associated with international students, who aren't 40% of the total student population, indicating a potential supply-demand misalignment. Furthermore, with a notable increase in Indian students and a decline in Chinese students in markets like Leicester, demographic...