Whilst the academic year 2011/12 saw a dip in university application rates due to the impact of the steep increases in tuition fees, UCAS have released statistics showing an increase in applications for the coming academic year.
Applications for the academic year of 2013/14 by the October 15th deadline reached 56,753, compared to 55,618 for 2012. Despite the slight dip last year, these early figures suggest that the positive trend for applications will continue. The statistics show 2013/14 reaching the highest application rates by October 15th over the whole of the 2009-2012 period.
These early figures alleviate fears of a continued downward trend in student numbers that was sparked by increases in tuition fees last year. Investment into purpose-built student property still remains a secure asset class as demand for high-quality student accommodation still outstrips the supply available.
With the sharp increases of university fees this year and the cost of university accommodation doubling in 10 years, there has been a rise of the ‘consumer student’. This has created more demand for the purpose-built accommodation sector, which provides a higher-quality living experience. With application rates recovering themselves after the dip last year, there will be even stronger demand for this type of accommodation.
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