Posts with tag: student property

Investment in student housing rises

Published On: October 21, 2015 at 11:47 am

Tags: housing investment,landlords,student property

New figures suggest that investment in the British student housing market rose sharply in the first half of this year.

Data from The Mistoria Group, a leading student property investment firm, reports that investment in this sector hit £3.98bn earlier this year, well more than the £2.35bn recorded in the whole of 2014.[1]

Increases

In the first half of 2015, London saw a new record-high of £1.98bn of transactions. This was a reflection of the number of investors buying into the potential yields of a well-maintained student home, as opposed to buy-to-let or commercial property.

Investment in the student sector in the North West has risen by 66% over the last 12 months, with the South East (65%) also showing considerable improvements.

Mish Liyanage, Managing Director of the The Mistoria Group, noted, ‘in some parts of the UK, student housing is limited in numbers and of poor quality, with only student pools and tatty HMOs available.’[1]

Investment in student housing rises

Opportunity

Liyanage believes that, ‘investors have a great opportunity to invest in Universtiy towns where there is short supply of quality, affordable student property. We have seen some investors divert a significant amount of their funds from traditional buy-to-let student property. For as little as £150,000, an investor can buy a four bed HMO in the North West, in a good location for students and professionals, fully refurbished, furnished and tenanted for the coming year.’[1]

‘A key driver for the rise in demand for HMO student property is down to the huge growth in student numbers over the last few years,’ Liyanage continued. ‘According to UCAS, the number of university applicants has reached a record high, as demand for higher education courses continues to rise. Figures published earlier this month reveal that overall there has been a three per cent increase in the number of applications, compared with the same point last year, he added.[1]

Concluding, Mr Liyanage said, ‘Investing in student accommodation offers an excellent long-term investment option. Typical rents are significantly higher for student properties, than a comparable buy-to-let property in the same city and student property is highly likely to be in constant demand throughout the calendar year.’[1]

[1] http://www.propertyreporter.co.uk/landlords/student-housing-market-hits-%C3%A3%C2%A2398bn.html

Students in Edinburgh Most Likely to Find Love

Published On: August 26, 2015 at 4:47 pm

Author: Em Morley

Categories: Landlord News

Tags: going to university,student accommodation,student landlords,student property

If you are a student heading for university next month, or a landlord providing student property, be aware that Edinburgh is the best place for students to find love.

A recent study has discovered that many students fall in love at university and also meet their best friend.

The University of Surrey surveyed over 1,000 graduates, finding that 36% had met their husband, wife or partner whilst studying.

In a list of the top ten cities in the UK where students have found love, Edinburgh came first with 53% of students.

Students in Edinburgh Most Likely to Find Love

Bristol and Liverpool came second and third, both at 46%.

The top ten cities for finding love at university

Position	City	Number of students that found love
1	Edinburgh	53%
2	Bristol	46%
3	Liverpool	46%
4	Cambridge	42%
5	Norwich	42%
6	Durham	41%
7	London	37%
8	Oxford	36%
9	Birmingham	36%
10	Nottingham	35%

Another important part of university is meeting new people, and 43% of graduates met their best friend while studying. Additionally, 39% of those aged between 55-64 said they are still best friends with someone they met at university. 37% of those over the age of 65 reported the same.

The survey also revealed that being social is more important than studying – 42% of graduates said socialising with friends was their favourite part of university, followed by nights out at 20% and classes and seminars at 12%.

Dr David Ashton, Vice-President and Registrar of the University of Surrey, says: “University isn’t just about growing academically, it is also about personal development.

“We see our students gain independence and new friends, so it’s wonderful to hear that the friends and loved ones people meet at university remain in their lives long after graduation.”¹

¹http://www.independent.co.uk/student/news/edinburgh-heads-the-top-10-cities-for-finding-love-at-university-according-to-university-of-surrey-10471305.html

Landlords and Agents Should Take Care Over Student Inventories

Published On: July 17, 2015 at 10:51 am

Author: Em Morley

Categories: Landlord News

Tags: student inventories,student landlords,student property,student rental property

Landlords and Agents Should Take Care Over Student Inventories

Student tenants could lose thousands of pounds due to items in an inventory going missing at the end of a tenancy.

The Association of Independent Inventory Clerks (AIIC) warns that landlords and letting agents should take extra care over accurate and detailed inventories in the next couple of months, as student check ins and check outs are at their highest.

Recent research from removal firm Kiwi Movers revealed that 52% of tenants experienced difficulties over the return of deposits when leaving a property.

The study also found that the most common reason for lost deposits is when items are missing from the inventory, accounting for a fifth of cases. Following this, other factors include minor repairs, cleaning and unpaid bills.

Pat Barber, Chair of the AIIC, says: “Tenants should be issued with a copy of the inventory at the beginning of the tenancy and I urge them all to double check all the items listed at that time and to ensure that all items remain in the property, in good condition, when moving out.

“If there is something missing it can often be cheaper for the tenant to replace it rather than for the landlord or agent to do so.

“For letting agents and landlords, it is important to go through the inventory fairly and thoroughly when undertaking the check out process.

“If both sides of the rental transaction hold up their side of the bargain, the amount of deposit disputes can be kept to a minimum this summer.”¹

¹https://www.lettingagenttoday.co.uk/breaking-news/2015/7/agents-advised-to-be-alert-over-student-inventories

Half of Students Think Rent is Good Value for Money

Published On: May 29, 2015 at 12:23 pm

Author: Em Morley

Categories: Landlord News

Tags: student accommodation,student landlords,student property,student renting

Around half of students (49%) think that their weekly rent is good value for money, a survey by Glide Utilities has found.

The tenant study also discovered that the average rent for students is £95 per week, unchanged since 2014.

Glide Utilities conducted a report, What Students Seek, which revealed that three quarters of students are satisfied with their shared accommodation, however, this has slowly decreased year-on-year.

Half of Students Think Rent is Good Value for Money

Additionally, 66% of respondents said they have had problems with the way their property is managed.

One of the biggest issues for students was a lack of communication, with 29% of students complaining of this. A fifth have also experienced intrusive or unannounced visits and inspections, with 39% reporting a lack of response to maintenance problems. Poor property upkeep was a concern for 28%.

Glide Utilities’ research also surveyed student landlords and letting agents, revealing that 15% are worried that they will not let all their student properties by the start of the next academic year.

The report also found that students are seeking more comfort from their private rental accommodation. Over half would like a double bed in their room and a third want an en-suite.

However, practicality is still incredibly important to students. A huge 83% put fast internet access as a priority and good storage is important to 72%.

Furthermore, the report found that some students are focusing on their studies rather than socialising. Over half said it is very important to live close to university and 31% find good transport links necessary.

CEO of Glide Utilities, James Villarreal, says: “The secret to gaining student appeal in 2015 is definitely more is more. While the majority of students are satisfied with their accommodation, we can’t ignore the fact that this figure is gradually falling. This isn’t because conditions are slipping, necessarily, but that student expectations are rising.

“We’ve see this in our own business and have made changes to keep attracting more customers. Our findings highlight exactly what students seek when it comes to private rented accommodation, and will help landlords and agents make the right practical changes without breaking the bank.”¹

¹http://www.lettingagenttoday.co.uk/breaking-news/2015/5/half-of-students-say-rent-represents-good-value-for-money

Student Property Attracts Investors

Published On: January 4, 2012 at 3:44 pm

Author: Em Morley

Categories: Property News

Tags: student property

Reports from property agent CBRE suggest that overseas buyers and institutions are becoming increasingly concerned in the student housing market. Student property attracts investors because it provides a stable income, whilst the remainder of the property market remains uncertain.

Student Property Attracts Investors

It is estimated that £836m was devoted to deals and development within student housing in 2011. This is a slight increase on 2010’s £770m figure, and the significantly lower £350m investment in 2009.

This large increase has resulted from the decline in the number of university applications for the next academic year. The increase in tuition fees has caused this drop.

The positive demand for student accommodation has however, been strengthened yearly by the large amount of overseas students. Within the UK, investors are attracted to the array of suitable accommodation for international students. This comes around ten years ahead of mainland Europe.

Within the UK, 99% of student accommodation is occupied, thus this market provides a rather firm investment. Alongside, rents are also increasing, with a 4% rise in 2011 outside of London. Within the capital, there has been a 5% increase.

The Head of Residential Research at CBRE, Jennet Siebrits, has noted that student accommodation is more appealing than other asset classes because new parties are pursuing opportunities to expand their portfolios.

Within the past 12 months, many deals have been made, including Legal & General providing a £116m investment for the Griffon Studios development for Imperial College. This is just one institution that believes they will see a stable ROI.