The timing of the government’s decision to increase the number of university places this year did not give the universities much notice and some universities struggled to meet the demand for student accommodation. Letting and agents in some areas have reported a substantial increase in demand. Newspaper articles reported in August areas such as Bristol five times the level of the previous year and also reports of 40 calls for a single room in a house near to a university. These were set to continue with more A levels student seeking places through the clearing system. Student accommodation was a subject of the BBC News in mid-October when the extent of the shortages became clear. Despite the previous assurances of the universities, some universities such as Bristol have been forced to ask students to share single rooms. There are similar shortages of student accommodation reported in Winchester and Aberdeen.
So are these good reading for those looking to invest in student accommodation?
Student accommodation has been increasingly popular with investors but these headlines do not mean that all student properties are a good option for buy to let investment. As with any property investment research is key and student accommodation is no different. The university population numbers are just one consideration when looking at a location , other points such as investment in the university amenities and the courses offered is also worthy of consideration. The amount of research that the university attracts is also worthy of investigation as is what other student accommodation is currently offered or being built. Proximity to the university is also an important factor as student have a reputation for being limited in their desire to commute to university. A students social life appears to also be a consideration for student accommodation with either proximity to the city centres or public transport also high on the checklist.
Investment Property Consults have experience in assisting clients in identifying the best student accommodation opportunities to match their investment motives and budgets, whether individual properties or complete projects.