Having just been voted as one of the top-ten most improved universities, The University of Salford is expected to attract thousands more students through its doors.
As such, demand for student property is also set to rise, with savvy buy-to-let investors being urged to seriously consider purchasing property in the region.
Salford success
Just last summer, Salford was named as the second most improved university in the UK’s 2015 National Student Survey. This in turn saw the university soar in league position in The Times and Sunday Times Good University Guide 2016.
Despite the university planning to invest £81m in state-of-the-art student accommodation, demand for property will outstrip supply. This is according to the student property investment specialists, The Mistoria Group.
Mish Liyanage, Managing Director of The Mistoria Group, noted, ‘the UK remains the no 2 destination for international students after the US. The number of international students attending British universities has increased dramatically over the last ten years and this is contributing to a large rise in student numbers.’[1]
Salford set for student property boom
Surge
Continuing, Mr Liyanage said, ‘this surge in the UK student population provides investors and landlords with a great opportunity. Student property is a very profitable asset class giving robust returns. For example, in Salford a high-quality HMO which will house 4 students, can be purchased for £160k. The return on investment is very attractive too, with 13% (8% cash rental and 5% capital growth.)’[1]
‘Salford is a great place to invest. It is a dynamic and vibrant university city with world-class attractions like The Lowry, which has the largest free collection of L S Lowry’s work and the Imperial War North. Salford also offers a wide selection of theatres, galleries, designer shopping, river cruises, museums, plus The Quays, Greater Manchester’s unique waterfront destination. Over half the city comprises of green spaces and features forests, nature reserves, mosslands, parklands and picturesque villages. What’s more, there are hundreds of acres of beautiful parks, with a variety of wildlife habits,’ Liyanage concluded.[1]
[1] http://www.propertyreporter.co.uk/landlords/demand-for-student-property-set-to-boom-in-salford.html