accommodationforstudents.com’s latest figures show that student rents have increased 19% over last 5 years whilst general residential rents are 6% down on last year – (London, 6/4/09)
The latest figures on student rents released today by accommodationforstudents.com (afs), the UK’s No 1 student accommodation website, reveal that the average UK weekly student rent continues to rise. At £62.40, the figure is up 1.5% on last year and 19% on the comparable figure five years ago. afs’s figures are based on rents from over 51,000 properties across 75 cities in the UK.
Compare this with figures recently released* that shows that general UK residential rents are now 6% lower than at the same point in 2008. Indeed another recent report ** shows that Central London rents are down 18% year on year, their lowest since September 2000.
Simon Thompson, co-founder and director of accommodationforstudents.com, said:
“Renting to students is a good long-term proposition. Not only have rents remained buoyant but student numbers are ever increasing, meaning an ongoing requirement for student rental accommodation. The number of full-time students rose by 10% in 2008, a record year.
Indeed, in London where residential rents are struggling so badly there is a chronic shortage of student accommodation. More than 100,000 student rooms are urgently required and buy-to-let rental yields of over 10% are possible.
But it’s not only London where student rental yields are above the norm. Another recent survey revealed an average rental yield of 7.9% for the top ten university towns, outstripping the UK average of 6.4% for other buy-to-let properties.
At a time when selling a property is so difficult renting it out to students is a viable alternative.”
accommodationforstudents.com has over 1.8 million registered student users, receives over 475,000 unique visitors in peak months, and has students spending an average of over 7 minutes on the site per visit.
* FindaProperty.com Rental Index March 25, 2009
** Knight Frank March 20, 2009
accommodationforstudents.com (www.accommodationforstudents.com) is the UK’s number one No.1 student accommodation website, designed to provide students with one central comprehensive source of information on student accommodation.
accommodationforstudents.com was founded in 2000 by Simon Thompson and William Berry. It provides a powerful search engine accessing a nationwide database of student accommodation properties across a number of criteria including geographical location, house mates and rent cost.
The site also provides a notice board and chat room facility which allows students to interact with each other and discuss their student accommodation queries. The landlord admin suite allows landlords to directly upload and edit their property details and pictures on to the site for ease of communication with students.
accommodationforstudents.com was nominated for Best Use of Web in the 2005 and 2004 New Media Age Awards and was highly commended in the Best Industry Innovation category at the inaugural 2002 Property Business Awards. Co-founder William Berry also won the 2006 BT Essence of the Entrepreneur award for the site.