Uni students keeping market alive |
23 2008 |
| A Financial Times report last week has highlighted how UK students are benefiting from the ailing property market. Despite the mortgage and property markets falling for the past year, figures from leading student rental property company Unite show that rental yields are rising. The company reports that, for the academic year 2008-9, 99 per cent of its rooms are full already and with the UK student population set to grow by 600,000 in the next six years it expects demand to remain high for some time. Mark Allan, Unite chief executive, explained to the newspaper: "There are around 40,000 more students this year than last and about 8,000 new rooms in total. There is an obvious supply/demand imbalance." Anecdotal evidence has suggested demand for rental properties as been rising among young professionals put off by the rising cost of property deposits. Renting may also be becoming more popular for its flexible nature which, for young professionals changing jobs regularly, could be a particular bonus.  |
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