Availability in the private student halls sector is at a three-year high, according to new data from marketing and insights platform StudentCrowd.
On average, 99 more buildings have at least one room available to book in April for 24/25 compared to the same period last year. This increase in accommodation availability follows a significant decline last year, which was 5% down on 2021 during January to March.
The data comes from a new report which shows that, despite an increase in accommodation availability, prices are continuing to increase. There has been an average increase of £2.86 ppw each month since the start of the current booking cycle:
Price increases persist despite the fact that student applications have decreased slightly overall (-0.3%). This is largely attributed to a plateau in 18-year-old applicants, a 5.2% reduction in mature student applications, and impacts in the international student market.
A StudentCrowd spokesperson says: “Despite a plateau in student numbers this cycle, the prices of student halls have continued to rise. This is largely due to wider market pressures: hall providers have sought to build more rooms to meet pre-existing over-demand but, simultaneously, new regulation and the imminent Renters Reform Act encouraged many private-house landlords to leave the market, perpetuating an under-supply of student homes.
“This raises the continual question of affordability for the end user: the student.
“Compounding this issue, StudentCrowd polls demonstrate that students are starting to choose their university based on the cost of accommodation rather than based on academic potential, resulting in a market powered by perception of value for money rather than the propensity to succeed.”
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Compounding this issue, StudentCrowd polls demonstrate that students are starting to choose their university based on the cost of accommodation rather than based on academic potential, resulting in a market powered by perception of value for money rather than the propensity to succeed.”
‘A market powered by perception of value for money’. This may prove to be the BTR sectors Achilles Heel!
Absolutely correct and may see a number of landlords making serious money if they are relatively close to a university.
I had a couple of houses with students, while they made great money there was a degree of drama attached to them. With the way things are going may go back to this and have them managed.
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