More UK Student Property Investment Needed, New Report Finds

More UK Student Property Investment Needed, New Report Finds

As new survey reveals the level of poor-quality accommodation many students in the UK must live in, does it further underline the need to provide the type of premium, purpose-built student property demanded in key UK university cities?

 

Summary:

  • Four in 10 students in the UK renting a property in the country’s private rented sector are living in a home described as “substandard”
  • Problems with utilities and landlords unable to offer a premium service mean many students are forced to live in property considerably below their expectations
  • With a 68% rise in demand for purpose-built student accommodation in recent years, the findings highlight the need for continued investment in the type of high-quality property students are demanding, particularly in key university cities where supply is lowest

Students in the UK are demanding high-quality student accommodation – and new research underlines why more investment is needed.

New research, conducted by the National Union of Students (NUS), has found that four in 10 UK students privately renting old-fashioned style housing are living in accommodation deemed as “substandard”.

42% of students surveyed admitted they frequently have problems with damp and insulation, while 16% reported that their homes have numerous electrical problems.

The report also highlighted a number of concerns when students must deal with amateur landlords. Only 63% of students reported that they had been provided with paperwork to prove that their deposits are safe, despite this being a legal requirement for tenants in the UK.  A quarter of students also felt like they’d been unfairly treated by their landlord over deposit concerns.

“Some students are living in appalling circumstances, in some of the worst housing stock in the country”, declared Eva Crossan Jory, Vice President for Welfare at the NUS.

It comes at a time when there’s been a significant uplift in the number of UK students demanding premium, purpose-built student accommodation, particularly in key Russell Group university cities. Between 2010/11 and 2015/16, there was a 68% rise in demand for purpose-built student accommodation, compared with just a 9% increase for both university-provided accommodation and traditional residential housing during this time.

Students are increasingly demanding purpose-built accommodation, close to university and city centres, with 24/7 service provided by dedicated professional management teams – and this is where investors in the UK student property market will achieve the highest long-term returns.

Select Property Group has just launched Vita Student Cardiff, the 20th project from its award-winning student property brand. For more information about this exciting new development, please click here.

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