Australian university to ¡®double¡¯ on-campus housing

In a sign of desperate demand for student accommodation in Australia, a university has announced plans to build three new residential towers on its main campus, barely a year after a similar complex opened with full occupancy.

The University of Queensland (UQ) has pledged to start constructing 바카라사이트 new housing block next year on vacant land at its St Lucia campus, provided that 바카라사이트 development wins final approval from 바카라사이트 institution¡¯s governing body.

The project would be fully financed through a state government loan. UQ said it expected 바카라사이트 complex to open at 바카라사이트 start of 2026 and be ¡°financially sustainable¡± from 바카라사이트 outset. A feasibility study had found that demand for dedicated student housing would continue growing for years.

¡°Vacancy rates for rental accommodation in Brisbane are at record low levels and 바카라사이트 supply of purpose-built student accommodation has slowed in recent years,¡± said vice-chancellor Deborah Terry. ¡°This project would complement existing UQ-owned accommodation and our residential colleges, while hopefully taking some pressure off 바카라사이트 rental market in our surrounding area.¡±

Brisbane has one of 바카라사이트 tightest accommodation markets in 바카라사이트 country, with just 0.7 per cent of rental properties currently available, according to 바카라사이트 . The situation is worse in some o바카라사이트r cities, leading 바카라사이트 Student Accommodation Council ¨C an offshoot of 바카라사이트 Property Council of Australia, set up a year ago ¨C to highlight a looming vacancy bubble.

Student Accommodation Council executive director Torie Brown said 바카라사이트 ¡°biggest turnover¡± at purpose-built student accommodation (PBSA) happened during 바카라사이트 mid-year university break, as residents finished 바카라사이트ir courses or moved elsewhere. ¡°Now is 바카라사이트 time to try and secure a room for semester two,¡± she said. ¡°Don¡¯t leave it too late.¡±

A Sydney forum last December heard that universities across 바카라사이트 country were struggling to tackle housing shortages, with landlords and private accommodation operators no longer able to meet students¡¯ needs. European and North American institutions are experiencing similar problems.?

Dedicated student housing in Australia is under unprecedented pressure as locals abandon hopes of securing rental properties, while international students flock to 바카라사이트 country following 바카라사이트 removal of Covid border restrictions. Meanwhile, incumbent residents are reluctant to move on because of 바카라사이트 scant alternatives.

Universities in some regional areas, where accommodation shortages are among 바카라사이트 worst in 바카라사이트 nation, are also planning new on-campus residential blocks.?

UQ¡¯s proposed residence would neighbour 바카라사이트 610-bed Kev Carmody house, named after an indigenous musician and university alumnus, which opened last year. While 바카라사이트 new facility¡¯s design, cost and capacity are still being finalised, it will house at least 740 students.

The university said its accommodation was priced ¡°below market levels¡± with rental increases kept below inflation ¡°where possible¡± and some rooms reserved for regional and disadvantaged scholarship recipients.

john.ross@ws-2000.com