International students are only partially satisfied with their Australian accommodation offering, with the majority (60.4%) choosing to live in private rentals, new research from Cohort Go has found.
The Aussie Study Experience report polled close to 700 international students in Australia. With students giving a mediocre 57 out of 100 as their accommodation satisfaction rating, the results demonstrate that there’s an opportunity for specialist student accommodation providers to win more market share.
With leading global real estate service provider Savills indicating that Australia’s international education accommodation industry added 10,850 new beds between 2018 and 2019 alone, Cohort Go CEO Mark Fletcher said that student accommodation providers should view the research as an opportunity to create a superior student experience.
“With the student accommodation market in Australia rapidly expanding, international students are an increasingly important segment that must be accommodated for. Our research shows that these students are underwhelmed by their current, mostly privately-rented, accommodation – a 57% satisfaction rate is something any industry would be concerned about.” Fletcher said.
“The homestay market continues to have an important role to play, but with fewer than one in ten international students staying in student accommodation, and only 5.8% living in on-campus accommodation, there is a clear opportunity for providers to grow their market share,” he said.
Education agents have a role to play
Providing access to booking accommodation services is also a missed chance for education agents. While just under three-fifths (59%) of international students chose their OSHC insurance provider based on the recommendations of education agents, only 12% are living in accommodation that was booked via an agent.
Fletcher said: “Key to improving satisfaction is the ability to connect international students with quality accommodation ahead of their arrival in Australia. There is a big opportunity for education agents and providers to work together to showcase the best that student accommodation providers have to offer.”
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