A survey receiving up to 70,000 responses suggests that 65% of first-time university applicants choose their institution based on the availability of suitable accommodation.
Knight Frank, in alliance with the Universities and Colleges Admissions Service (UCAS), claims this is the biggest survey of university applicants and students into accommodation choices in the UK.
The agency says the 65% figure underscores the importance for developers and operators to ensure adequate, high-quality housing options that appeal to the next generation of students.
The report also points out that affordability remains the leading concern, with 69% of students indicating that Purpose Built Student Accommodation offers a more appealing choice, particularly in light of rising living costs.
Neil Armstrong, Joint Head of Student Property at Knight Frank,comments: “Purpose-built accommodation not only enhances the student experience but also helps students manage their living expenses more effectively, especially as utility costs and rents continue to rise.”
The 2024 findings show a growing preference among students for amenities that deliver tangible benefits.
Fast WiFi, 24-hour security, and on-site laundrettes were ranked as essential features.
The survey also reveals that students are increasingly prioritising wellbeing services over luxury amenities. Some 78% of current students noted that their accommodation provider’s commitment to supporting mental health was important to their housing choice.
Merelina Sykes, Joint Head of Student Property at Knight Frank, adds: “While amenities like cinema rooms and swimming pools are nice-to-haves, students overwhelmingly prefer practical, well-managed facilities. This extends to pastoral support – on-site wellbeing services are increasingly seen as indispensable.”
With rents for PBSA housing rising by 7.6% in 2024, affordability remains a pressing issue. The survey reveals that 44% of students said accommodation costs had negatively impacted their university experience.
Furthermore, 88% express concerns about rising living costs, with many students seeking additional sources of income or support from parents and guardians to cover their rent and living expenses.
Knight Frank says that as the UK continues to experience a mismatch between the supply of PBSA and student demand, it urges universities and the private sector to collaborate more closely on developing new accommodation.
The report estimates that by the end of the decade, PBSA will accommodate the majority of second and third-year students, offering significant opportunities for investors and developers.
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