Growing student numbers to drive rental demand

01 2008
As the numbers of young people heading off to university increases, demand for rental accommodation is set to soar over the coming years, experts have stated.

According to a new report from the property developers King Sturge, transactions within the student accommodation sector totalled some £700 million in 2007, with this figure set to rise in 2008.

This came as the number of students grew by six per cent on 2006 levels, with around 1.4 million people in full-time higher education and a large proportion of these renting a property privately.

Furthermore, this figure is expected to hit three million by 2014, thereby adding to the high demand for rental accommodation.

Philip Hillman, national head of King Sturge’s UK student accommodation group, said: "It is clear that the sector is entering a new phase of university-led development and refurbishment of existing stock, alongside an increased focus on the provision of premium accommodation for overseas students in major European university centres."

He added that, alongside London, the UK cities set to see the greatest boost in demand include Manchester, which has the country's largest student population of around 70,000. ADNFCR-1219-ID-18450487-ADNFCR

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