Colliers’ John Neal Manning Provides State of the Student Housing Market at CAPRE’s Carolinas Student Housing Forum

RALEIGH, NC – Student Housing is a vertical that’s ripe for the picking, but not all markets were created equally. That’s why CAPRE invited John Neal Manning, Vice President for Multi-Family Advisory, RDU, at Colliers International to provide a morning keynote address titled “State of the Student Housing Market: By the Numbers” at CAPRE’s Carolinas Student Housing Forum. According to Manning, the biggest driver of rents in North Carolinas, as far as multi-family goes, is that the region is seeing a huge amount of development in student housing. “Raleigh is one of the largest drivers in the state, and the economy is balanced on our universities,” he shared. “So obviously we have student housing. And student housing is a far cry from the post-war era, ranch style homes, garden style, updated apartments, and the fraternity houses that we lived in when we were in school. There is a cold war of amenities going on as well as the discussion of proximity.” Next, Manning zoomed out to chat about the national conversation. “As far as new development around the country in 2018, 2018 was relatively flat,” he asserted. “Over 2015, 2016 and 2017, there were about 47,000 beds, on average, delivered. So that’s fairly flat. The development pipeline was also pretty strong and it probably came out about the same, between 45,000 and 47,000 beds, depending on how you look at it.” “Student housing is obviously in its infancy – well,…