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Student accommodation providers learning lessons

Some harsh lessons have been dealt to the student accommodation sector, with international border closures delivering a sharp fall in occupancy rates.

Student accommodation providers learning lessons
Mirvac and John Holland's Waterloo Station Precinct plan includes a 500-bed student accommodation facility. Image: Mirvac

Some harsh lessons have been dealt to the student accommodation sector, with international border closures delivering a sharp fall in occupancy rates.

Purpose Built Student Accommodation operators were reporting near record occupancies ahead of the 2020 academic year getting underway.

Most accommodation providers nationally have reported a fall in occupancy levels, and income, of 20 to 50 per cent. With student rental demand very low at the mom…