Student Rent Prices to Rise
Posted by: Simon on: 23rd April, 2008.
- In: Etna House| General
- Comment!
With the current climate of property, student accomodation prices are still holding strong and are set to rise according to aboutproperty.co.uk.
This is great news for developers, especially for Eastside’s Etna House and the huge 700 student apartment blocks at Curzon Gate. Downside this is bad for the students, however prices for Birmingham are very attractive with below national average figures. You can read the full article here.
Quote:
The average weekly student rent in the UK is now £61.48 per week, according to the latest research.
This represents a 1.5 per cent increase on the figure recorded for April 2007, following a study of 44,000 properties in 76 cities across the UK.
Over the past four years the average student rent has risen 17 per cent, from £52.44 in 2004, according to AccommodationforStudents.com.
“Now, with the current UK economic climate, the biggest factor affecting the student lettings market is the fact mortgage rates have increased and 90-100 per cent mortgages are no longer available.
“Because of this, young professionals are finding it increasingly difficult to get on the property ladder and many landlords are accordingly transferring previous student rented accommodation to professional letting, putting student rented accommodation under pressure, particularly in some cities.”
Some traditional English redbrick universities – including Liverpool (£50.52), Birmingham (£54.28), Manchester (£56.65), and Sheffield (£57.12) – remain below the UK average.
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