Development boom as new Perth CBD Edith Cowan University campus drives demand
“Perth has traditionally had one of the lowest student-to-bed ratios, but we now see a third of all beds in Australia under construction in WA, showing Perth is attracting investor interest and catching up in terms of building a mature student accommodation sector.”
Infrastructure Australia predicts the number of students in the Perth CBD will rise from 9,200 in 2025 to 16,400 by 2030.
The federal government recently mandated that public universities can increase international student enrollment only if they comply with three key policies, including a commitment to increase access to student housing.
The link between international student visas and the growth of purpose-built student accommodation has seen the development pipeline grow nationally from 36,000 at the start of the year to 40,000 in Semester 2 this year.
12,522 of them are at the development application stage, 16,366 of them have received planning approval, and 11,202 of them are under construction.
“The federal government has made clear it wants to see continued growth in student accommodation and these latest figures show the approach is working,” Brown said.
“As universities partner with private sector owners and operators, new world-leading projects are taking pressure off the private rental sector by bringing beds to market in the areas where we need them most.
“We are already seeing a significant increase in the number of beds in cities such as Perth and Adelaide, which have investment-friendly environments and pro-international education governments.”
Unlike states such as Victoria, developers looking to build in WA avoid being taxed per student bed; Purpose-built student accommodation attracts the same property taxes as other types of commercial property.
in WA, There is a 400 million dollar plan Work is ongoing to transform Carillon City, including the development of a 35-storey tower that will accommodate 803 students as part of this transformation.
construction 33-storey project worth 80 million dollars It has just started along Wellington Street, with the aim of opening to students next year.
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student accommodation provider Juno House opened a new store Inside what was once the Rendezvous Hotel on Mount Street.
The 21-storey building, next to the new campus and Perth bus terminal, was approved for development in August, subject to conditions.
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