Student lettings market grows in the UK
News Category: Industry News
Published: 24-Nov-2009
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Letting agents and landlords have been told that the student lettings market in the UK is growing by five per cent each year.
The study by estate agents Knights Frank also predicted that the market will continue to grow, with university admissions body Ucas reporting a 12 per cent rise in applications for undergraduate courses this year.
It estimated that student rents will rise by five per cent during 2010-11, comparing favourably to other commercial property sectors.
The highest regional rises were reported in Bristol, Leeds and Liverpool, where the average student rent went up by 13 per cent.
Tim Goddard, head of student property at Knight Frank, told letting agents and landlords that the future of the sector looked rosy.
"The underlying market fundamentals for the student property sector are positive, with supply restricted and strong demand underpinning rental growth," he said.
Earlier this month, Paragon research revealed that landlords are feeling more confident about the industry as a whole, with around one-third of those interviewed believing tenant demand will increase next year.
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