South Australia’s future accommodation needs for the growing demand from international students has been outlined in a report released today commercial real estate firm JLL.
Commissioned by the State Government, the report outlines the current demand and supply landscape for purpose-built student accommodation for international students in Adelaide city and surrounding suburbs including Mawson Lakes and Bedford Park/Tonsley.
Minister for Trade, Tourism and Investment David Ridgway said the Marshall Liberal Government’s investment in international education related infrastructure has been significant to date.
“JLL’s report shows that the Adelaide student accommodation market is operating at 85-95% occupancy suggesting that current supply is meeting demand.
“Increased international student enrolments will lead to greater demand for quality and affordable student accommodation, particularly in proximity to the state’s major higher education institutions.
“With the data from this report, we are clearer on the extent of the opportunities for further investment in student accommodation to meet any identified shortfall.
“We’ll now make this data available to the property development industry and use it to promote the investment opportunities that exist in South Australia.
“Accounting for reasonable future growth in demand, the JLL report forecasts that by 2030 up to an additional 2,550 beds will be required in the Adelaide CBD, up to an additional 1,400 will be required in Bedford Park/Tonsley, and up to an additional 290 beds will be required in Mawson Lakes.
“Encouragingly, work is underway with eight new purpose-built student accommodation projects set to be completed in the Adelaide CBD before 2022, with a total development value of $525 million providing more than 4,200 beds.
“South Australia attracts students from more than 130 different markets and in the first six months of this year international student enrolments grew by 11.8% when compared to this time last year, outstripping national growth (of 10.7%) for the first time since 2011.
“Commencement of new students in South Australia also grew by 14.2% compared to the national average of 8.7%.
“Our International Education 2030 Plan aims to increase international student enrolments from 38,000 in 2018 to 71,000 in 2030 through a live, learn and stay approach,” Mr Ridgway said.
“The JLL report complements the government’s recently released International Education 2030 Plan which for the first time, takes a whole of economy approach to the sector.
“International education plays a critical role in South Australia’s wider economy, not only is it our largest services export and second largest general export, further to that it attracts new students, new industries and new investors to our state, and provides opportunities for cultural exchange, integration and diversification.
To download a copy of the report visit: https://dtti.sa.gov.au/international-education
