Professional renters impacting on student property options |
12 2008 |
| Students are struggling to find cheap accommodation due to the growing number of young professionals staying in the rental property sector, it has been suggested. Despite numerous recent reports of slight falls in the value of property across the UK, a first home still remains out of the reach of a significant proportion of would-be buyers, with the current uncertainty surrounding the market furthering their resolve to stay away from attempting to make a purchase in the foreseeable future. According to the website Accommodation for Students, such a trend is pushing rents up for student tenants as demand increasingly outstrips supply, highlighting the need to shop around for the best rates, particularly in popular cities such as London and Manchester. Simon Thompson, co-founder and director of the website noted: "The student accommodation situation has been worsened by the current credit crunch. "Not only are costs going up but availability has been reduced as many former student landlords are now renting to young professionals who can no longer afford to get on the property ladder."  |
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