Many considering student property as a way of investing in property, may wonder with the recent new builds is there still a need for property in this arena, and is the demand for student housing continuing. The answer appears to be yes as confirmed by recent newspaper reports of the queues through night. In Oxford the demand for student housing is fierce in the and so students reportedly queued outside North Oxford Property Services overnight in order to secure accommodation for next academic year.
The property company released their list of student houses last Thursday morning, and we understand by 9am there were already 60 people waiting in line, having begun to queue late the night before for houses in popular student areas Jericho, Cowley and Iffley.
Oxford City Council have claimed that the city is in the middle of a “housing crisis”, with a “lack of housing availability, choice and affordability”, estimating that between 24,000 and 32,000 new homes needing to be built before 2031 in order to meet the city’s need.
The demand for student housing varies greatly in different areas
This is affected not only by the the student accommodation currently available but also by what is due to be or in the course to being built. Demand for student housing can also be affected by other factors such as the introduction of new courses, facilities or research grants which may make a university more attractive to the student population.
What students are looking for has also changed, with the this sector seeing the demand for student housing switching to purpose built student accommodation ( PBSA) with its modern facilities, en-suite rooms and internet connections and less demand for the HM) shared houses.
Research is vital by any property investor looking at the student accommodation sector and an essential part of that research is the demand for student housing in the area. There are a number of other important factors that can indicate whether a property will be a good student property investment. Investment Property Consults are experienced in assisting property investors in choosing the right property investment to suit their budget and requirements and are happy to assit those looking at stanrting to expanding a property portfolio.