Sheffield is in Renovation!
The city of Sheffield is focusing on regenerating this Northern Powerhouse. Developing public spaces to support and maintain local neighbourhoods. Plans for the city’s development began back in 2013, creating a master plan to drive forward the city’s economy and create jobs. Developing strong transport links and business districts to compete with other major cities in the UK.
Sheffield is the UK’s 4th largest city, with a current population of 563,000 which is only expected to rise in the next 20 years. The city has a large number of residents aged 20-24 due to the significant student population at its two universities; University of Sheffield and Sheffield Hallam University. Plus, with high quality hospitals and a large business population in the heart of the city centre, the demand for jobs is constantly on the rise.
In the last decade, the population of Sheffield has grown by 8.5%. Meaning that the amount of housing, especially for students and young professionals is desperately needed.
Sheffield’s development as a city has grown from strength to strength in the past few years and only looks set to get stronger.
The demand for UK student accommodation keeps rising.
Government caps on student numbers in the UK have been removed altogether in 2015/16, with the UCAS’ mid-September update on the student market showing that the overall number of students has risen by 3%. Most significantly the number of EU students has increased by 14% and the number of international students outside of the UK has also increased by 3%.
Demand has continued to remain robust throughout the introduction of increased tuition fees in 2012, which is really positive for the growth of students in the UK.
In 2012 the UK was the second largest destination for international higher education with a 13% global share, second only to the USA with a 16% share. However, the percentage of students compared to land mass was increasingly in the UK’s favour.
In the first nine months of 2015, a record £4.25 billion in student housing transactions were recorded in comparison with the previous high of £2.7 billion in 2012. This is due to an increase of international students. International students, from both inside and outside of the EU, currently accounts for 19% of the UK student population, that’s a staggering 435,000 students. These international students are attracted to the quality of the UK’s universities and teaching, a globally recognised qualification, the opportunity to enjoy life in the UK and the high quality of accommodation available to all students.
Purpose-built accommodation remains well below student numbers in key UK university cities and does not support the strong demand. Meaning that some university places are being held back purely by lack of student accommodation. With an increase of available student accommodation, the number of Students in the UK is likely to rise significantly.