Student blocks could become graduate housing as Nottingham battles post-grad talent drain

A drop in the demand for student housing has opened up a new possibility in Nottingham, as the city attempts to keep “top talent” after graduation.

It has been proposed that student blocks could be converted into “co-living spaces” for graduates as part of efforts to retain young professionals after they complete their studies.

Co-living is a housing arrangement in which all bills are typically included, with renters having individual facilities such as a bedroom or an en-suite, while also sharing facilities such as a kitchen, laundry room or workspaces.

Nottingham City Council is considering the move as demand for student accommodation declines, leaving a surplus of student housing while longstanding graduate retention challenges persist.

More than 16,000 student bed spaces have been built in Nottingham over the past decade as the city responded to growing student numbers.

However, falling numbers of full-time students and an increase in commuting has led to rising vacancy rates in the purpose-built student accommodation sector. Over 700 homes have been returned to the general housing market already.

via Pexels

Despite Nottingham’s success in expanding student accommodation, retaining graduates remains a challenge. The Nottingham Student Living Strategy 2023-2028, a partnership between Nottingham City Council, the University of Nottingham and Nottingham Trent University, includes graduate retention as one of its three key priorities.

Assistant director of student living at the University of Nottingham, Vikki Welch, said: “As part of the student living strategy, one of the priorities was about improving graduate retention to stay within our city and contribute to the city.

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“The feedback we obtained from our students was they wanted to transition into more professional housing within the city, and they felt there was a gap in that.

“We feel this will enable more professionals to live in our city, but also retain that top talent we are educating once they have completed their studies.”

Around 30 per cent of graduates stay in the city or wider East Midlands after university, with the East Midlands recording the lowest retention rate for STEM graduates in the UK.

Paul Seddon, the council’s planning director, said: “[We] have drafted informal planning guidance on what is known in the market as co-living.

“It is a transition from student accommodation to graduates, young professionals, it is not typical flat accommodation, but it is something that is important for Nottingham’s market.”

While cheaper co-living accommodation may provide graduates with more affordable routes into professional housing, the question remains over whether housing alone can hold Nottingham’s students after they graduate.

The Student Living strategy notes that employment opportunities remain one of the biggest factors in whether graduates remain in their place of study following graduation. As Nottingham looks to repurpose its growing surplus of student accommodation, the success of such a policy may depend not only on where graduates can live, but also on where they can work.

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Featured image via Unsplash