Rental property bucking national trends, study shows |
08 2008 |
| Soaring numbers of students across the country are one of the main drivers behind the continued success of the rental property sector, a new study has found. While a number of property markets, including commercial assets, currently suffer from ongoing downturns, student rental accommodation is going from strength to strength, the research carried out by Knight Frank found. This is particularly true in large cities such as Manchester and London, where competition for halls of residence is intense, leaving many students looking for their own homes in the private rental sector. Such a situation has allowed landlords to benefit from annual returns of around 10.2 per cent over three years, with Knight Frank confident that this strong performance will go on for many years yet as the government encourages even more young people to go into higher education. Also driving the soaring popularity of rental accommodation is the number of overseas students heading to the UK's universities, with many attracted by the flexibility that renting offers, as well as the significant financial advantages.  |
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