Student rents indicating increasingly competitive market

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Student Rents:

The 2019 student rents are close to their 20-year average are indicating an increasingly competitive market.

Data from
Accommodation for Students (AFS) analysing the cost of student accommodation*
in 2019 has found that the average rents across many cities are close to the
20-year average of £79 per week. This is good news for students indicating that
there is value to be had but may mean that landlords have to work harder to
secure student tenants.

Currently
(2019) the average price for student accommodation is £86 per week but if
London is removed, where its buoyant market commands an average room rent of
£187, the UK average would be £79. The relatively small difference in price
between the 20-year average and that of 2019 reflects the fact that in the
majority of UK cities, the competitive nature of the student housing market,
with the growth of the PBSA sector particularly outside the capital, has curbed
rental increases.

Overall, this
has been a functioning housing market, with value to be had in the majority of
cities. Cities like Wolverhampton, Bolton, Hull and Dundee have 20-year average
rent costs of £62, £63, £65 and £66 respectively.  At the opposite end of the scale are more
expensive locations like Brighton (£106), Guildford (£111) London (£115) and
Kingston (£117).

While this
might be anticipated, with such locations generally high cost anyway, cities
with strong Universities, and hence attractive to students, like Birmingham
(£70), Newcastle (£74) and Sheffield (£75) have all offered great value over
the last 20 years.

Simon
Thompson, Director of Accommodation for Students, comments: “AFS has been
the home of student accommodation for 20 years, featuring 198,000 student
houses across all major UK university towns and cities. Analysing rents over
this period, demonstrates a vibrant market, where at one end of the spectrum
there are properties on the market for £900 per week (Chapter Spitalfields) but
students can also secure some very reasonably priced accommodation
elsewhere. 

“As the
market has become increasingly competitive for landlords, we have invested
heavily in making improvements to the AFS site. As well as offering automated
feeds, enabling letting agents to instantly upload multiple properties in any format
in real time, we are currently finalising a new landlord account area making it
easier for landlords to connect with the 3 million students that visit the AFS
portal every year.�

Following
major upgrade of the AFS portal, the company has seen the number of enquiries
through the site increase by 51% year on year.

* Data analyses shared student housing

www.accommodationforstudents.com is the World No.1 Student Accommodation Search Engine. AFS features at the top of search engines, hosts more content than any other student accommodation website and is currently one of the fastest ever property portals, with page download speeds of 0.8 seconds.

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