The message that came across from a number of speakers was that just like a lot of other sectors, the PBSA world, is experiencing a considerable shift in the environment in which it operates and certainly the most change since the first private sector PBSA buildings were developed back in the 1990’s.

To kick off the day the Right Honourable Justine Greening emphasised how the politics of today is so different from the past leading to Government policy being driven very much by short term objectives. One word that Justine raised and featured heavily throughout was “partnerships” and although private sector PBSA providers have worked closely in the past with universities, it would appear that now, more than ever, those relationships need to be tightened so as to ensure mutual success.

Bryn Morris, the recently retired Registrar and Secretary at the University of Essex emphasised the financial challenges faced by universities, despite the recent announcement of annual increases in the tuition fee linked to RPI. Some universities are having to tackle financial shortfalls with drastic action with voluntary redundancy programmes now being replaced by compulsory layoffs. Other significant cost saving measures are being implemented such as the University of Essex’s announcement of the closure of its Southend campus made in the early part of last week, with Bryn being keen to emphasise the human consequences of such decisions.

International student numbers, on which so much of the PBSA sector relies, were covered by Nick Dillon from the NOUS Group. Although the turmoil in US Universities may give hope to admission teams in UK Higher Education, Nick was quick to highlight that there are now more options than ever for international students with a rise of course options in Asia, particularly in Hong Kong, Japan and Malysia as well as mainland Europe. The traditional “Big Four”, the US, UK, Australia and Canada would now appear to have a battle on their hands to maintain their current status.

Sam Bailey-Watts from Unipol and Richard Ward gazed into a crystal ball to try and predict the impact of the Renters Rights Act on Student Accommodation. There was, perhaps, some cause for optimism for PBSA not least through their exemption from the majority of the new legislation if signed up to the Unipol code and it was not a surprise to learn from Sam that, as a result, there has been a glut of new membership applications. There is a view that the Act could bring about a reduction in the number of HMO landlords targeting student tenants but as Richard highlighted there is one specific area that, perhaps, may lead to an increase in demand for PBSA.

As landlords of 1 and 2 bed off-street properties do not have access to the section 4A notice which only applies to HMO’s, it was felt that there may be a landlord exodus from targeting students for such properties and given that they are normally at a higher rental point than a traditional HMO, students who may have sought 1 or 2 bed flats may turn to PBSA. According to StuRents data, Nottingham, a city where occupancy rates have been challenging for some, has over 20% of PRS student stock as 1 and 2 bed properties – perhaps going forward these students will be tempted to fill some of the PBSA voids that currently exist in the city.

The final session of the day “Learn from our Mistakes” featured four individuals joining me on stage for a combined 140 years of experience in the PBSA sector. But there again David Tymms, Jo Wichester, Clive Crawford and Keith White were quick to recognise how much had changed recently with the rise of commuter students and the diminishing value of the graduate premium being factors identified that will impact the sector on the demand side whilst the requirements of the Building Safety Act, amongst other things, hampers supply.

But despite all these changes the panel remained optimistic with several indicating, for the right scheme, they would personally invest in PBSA, had they the resources so to do. It was though Jo Winchester who identified the factor that had brought her the most satisfaction from her career and that was the people she had met in the PBSA world. A reminder perhaps, if needed, that we are fundamentally a people, not a building industry.

The circumstances in which the sector finds itself actually made the panel sessions and presentations that more interesting. Individuals had different opinions and solutions to key issues such as Affordability and there were differing views around “What next?”. Reassuringly though there was agreement that PBSA in the right location and partnered with the right university will continue to flourish. So, despite the difficulties being faced, delegates left with a positive outlook but there again, according to Nido Qubein, the American businessman “Change brings opportunity”.

PS. By the way there were a few comments as to why the caricature of me, dressed clearly as a referee held a green card. Surely the Property Week team know that football only have yellow and red versions? It was deliberate as my sporting background is in hockey and I am a qualified umpire and have the option of a green card, which results in a player having to leave the pitch for 2 minutes, sometimes when it is felt they might need to calm down.

I often think that the Green Card is a good process when life hands you a crisis – dwell a pause of 2 minutes before responding, unless, of course, it is an absolute emergency. How often do you wish your initial response to a situation had been somewhat different – I know I have!