Posts with tag: halls of residence

Why First-Year Students are Shunning University Halls

Published On: October 18, 2017 at 10:13 am

Author:

Categories: Property News

Tags: ,,,

A growing number of first-year students are opting for private, more luxurious student accommodation, rather than the traditional halls of residence, according to accommodation provider Collegiate AC.

Why First-Year Students are Shunning University Halls

Why First-Year Students are Shunning University Halls

The firm’s figures show that first-year students are increasingly shunning university halls in favour of more luxurious private student accommodation.

The CEO of Collegiate AC, Heriberto Cuanalo, says: “Today’s freshers have more choice than ever before when it comes to student pads. They are making the most of that choice by opting for alternatives to university halls. The image of the university lifestyle has changed dramatically over the past decade or so, and university halls are no longer in line with what students demand as part of their experience, so they’re voting with their feet.”

Collegiate AC’s data shows that first-year students accounted for 20.19% of its residents back in 2015/16. That figure rose to 21.66% in 2016/17 and to 22.06% in 2017/18. The proportion of freshers opting for private pads is rising slowly but steadily, year-on-year.

So why is this happening? First-year students are increasingly expecting a wide range of features from their accommodation. Not only do students now want en-suites in their rooms, but private fitness centres, club lounges, concierge services and dedicated study zones are also in high demand.

“Part of what makes the appeal of accommodation like this so strong is the blend of private space and outstanding social spaces,” explains Cuanalo. “Tuition fees nowadays mean that students have to pay a great deal of money in order to attend university, so it’s not surprising that they want to make the most out of every minute of that experience.”

Many purpose-built accommodation providers are also using the location of their sites to tempt first-year students away from university halls. Sites are not only well located for the university, but also for pedestrian access to the city centre – something that many university halls lack.

Cuanalo comments: “With location as well, it’s about going over and above that which is offered by traditional university accommodation. Most first-years are excited to experience all that their new town or city has to offer, and that means shopping, eating and socialising in the city centre. The more conveniently a property is located for this, the better.”

With demand for luxury student accommodation continuing to grow, there’s an opportunity for landlords to cater to the needs of first-year students with each new academic year – perhaps a new investment option is on the horizon!

Private Student Landlords Left Behind as Private Halls Investment Grows

Published On: February 24, 2017 at 9:55 am

Author:

Categories: Landlord News

Tags: ,,,,

Private student landlords are being left behind as investment in private halls of residence continues to soar, according to lettings portal StudentTenant.com.

Private Student Landlords Left Behind as Private Halls Investment Grows

Private Student Landlords Left Behind as Private Halls Investment Grows

One of the UK’s largest student property developers has recently set out plans to invest more than £300m over the next three years to create an additional 7,500 student rooms across the UK.

This news follows shortly after the student property specialist revealed a strategy shake-up to target more towns and cities with high-performing universities.

This academic year, the group has opened five new properties, creating 3,000 beds, in addition to 4,800 in ongoing projects for 2017. In the next three years, a further 7,000 beds are set to be created in new private halls developments across the UK.

The Managing Director of StudentTenant, Danielle Cullen, warns: “We’re currently seeing a student rental crisis in many areas in the UK. As a growing imbalance between supply and demand develops, rental prices are increasing, making it a less affordable option to study away from home. The student rental market is desperate for investment and it’s great to see vast amounts of money being spent.”

With over 1.7m students in full-time education in the UK and almost 60% of those living away from home, demand for student housing is high.

As for supply, 53% (230,000 beds) of total purpose-built stock is university-owned, while 47% (200,000 beds) is privately owned by private hall investors and landlords. But as investment in private halls rises, there are growing concerns for private rental housing.

What is uncertain, though, is the impact that this will have on the residential shared housing market and private student landlords. In 2015, private halls only accounted fro 6% of the entire student property stock. In recent years and based on development plans, this is set to significantly increase.

Some cities have recently had new private halls of residence developed, causing a handful of private student landlords to be left with unlet properties at the end of the last academic year.

StudentTenant is worried that this trend of leaving private student landlords behind will stick.

Cullen continues: “Whilst investment into private halls is great for students and competition, it will have a huge impact on private landlords in the areas of investment. Traditionally, private halls were always the higher end of the market in terms of both quality and price. Now more developments are completing, however, creating more competition, the price points are lowering, leaving some private landlords in trouble.”

Student Rents Fall as Admissions Drop

Published On: September 18, 2012 at 3:14 pm

Author:

Categories: Finance News

Tags: ,,,

Rising tuition fees have seen university admissions fall by 7% in comparison to last year. The drop in student admissions has also had a knock-on negative effect on the growth of student rents.

Value

With this said, figures suggest that students renting in the private sector still gain better value than those staying in halls of residence. A student flat share room has risen 3.9% in cost in the previous 12 months. This is in comparison to a rise of 5.5% for students living in halls of residence, where average costs are nearly £1,200 greater per year.[1]

Research from website EasyRoommate suggests that the average cost of a student flat share room has risen by 3% in the previous annum. Students across Britain’s most popular university cities now pay around £345 per month, up from £332 last year.[1]

In comparison, average rent prices for non-student flat share properties have risen from £409 to £440, a growth of 7.6%.[1]

Student Rents Fall as Admissions Drop

Student Rents Fall as Admissions Drop

 

 

Rising fees, less degrees

The dip in applications for higher education places comes as tuition fees of up to £9,000 move into effect for the 2012/13 academic year. On average, tuition fees across the biggest university towns and cities stands at £8,305, so it is little wonder that applications have fallen.

EasyRoommate director Jonathan Moore, said that the astronomical fees were the final straw for undecided students. Moore said: “The rise in tuition fees and the prospect of a debt mountain on leaving university was the final nail in the coffin for many would-be students.

“The drop in applications has eased the pressure on student accommodation and this has caused rent rises to slow compared to the wider market. Something that will be very welcome to cash conscious students and parents.”

Halls

Many students prefer the security of halls of residence, particularly in their first year as an undergraduate. However, prices of halls have risen by 5.5% across many large university cities, from £3,827 to £4,035 last year.[1] Moore suggests that the rise in prices of halls is a major factor for some students deciding against further education.

Moore states: “Halls of residence have many advantages and can be a great social hub when first starting out at university. But as the cost of studying climbs ever higher, more and more students will be considering their options in order to save a few pounds.

“Demand for amenities such as wi-fi, en-suite bathrooms and double beds has caused halls of residence costs to grow faster than average student flat share rents.

“While flat sharers don’t tend to get bills and cleaning costs included in their rent, the more people you share with the wider you can spread these expenses. And with the cost of university rising higher each year many students will be exploring every avenue they can to try and save money.”[1]

[1] http://www.landlordtoday.co.uk/news_features/Growth-in-student-rents-slows-as-admissions-fall