Last year nearly 2.4m people enrolled in higher education across the UK according to the HESA, with 56% of students opting for either provider maintained properties, private-sector halls or other rented accommodation.
While Covid-19 may see these figures decline for the coming year, many students will remain hopeful of starting or returning to university in the coming months. Property developer StripeHomes has taken a look at the best universities for student accommodation availability and those currently in the highest demand amongst the returning student body.
When it comes to the best universities for student accommodation availability, Warwick ranks top.
Currently, the amount of student-specific accommodation available accounts for 71% of all rental properties listed online.
Kent (67%), Dundee (59%), Swansea (58%) Newcastle and Northumbria (56%) also rank as some of the best universities in terms of the volume of student-specific accommodation as a percentage of all available rentals.
In contrast, King’s College London, Imperial College London and London School of Economics and Political Science rank as the worst. Just 5% of the accommodation currently available to rent in the City of Westminster is specifically designated as student accommodation.
Queen Mary’s in Tower Hamlets (6%), the SOAS University of London (10%) and UCL also rank as some of the worst where the volume of current, available student accommodation is concerned.
Where current demand for student accommodation is concerned, the University of York ranks top. Of all current student accommodation available, 73% has already been rented by those starting or returning to the university.
Student specific accommodation near the UCA in Farnham is also in high demand with 61% of stock currently listed already let agreed, with the universities of Stirling (45%), Surrey (44%), Bristol (41%), Exeter (36%), Essex (36%), Royal Holloway (35%), Nottingham (35%) and Nottingham Trent (36%) also ranking high for current student rental demand.
Managing Director of StripeHomes, James Forrester, commented: “Investing in student accommodation can be a smart move as the ever-revolving carousel of tenant demand for student-specific properties can ensure a constant stream of rental income.
Many students will have completed their current year in an online capacity, but going to university is a physical life experience that is unlikely to be replaced by the trend of remote working currently sweeping many workplaces.
Even in the current climate, there remains a strong demand for student accommodation surrounding universities all over the nation, presenting a great opportunity for property investors and developers to step up and provide these much-needed homes.
At StripeHomes, this is something we’ve continued to prioritise with an eye on the long-term, as should always be the case with any property investment and development.
Providing excellent student accommodation is something we do very well in Newcastle and the surrounding areas, so it’s great to see both Newcastle and Northumbria rank so highly where the level of available student accommodation is concerned."