Whilst two years ago only one third of student renters had to pay £100 or more a week in order to secure their living space, the number has now jumped up dramatically.
Student housing search engine, University Cribs, recently published a report revealing that living costs for students are constantly rising, including those for rental accommodation.
The report also pointed out that those studying in London and England’s South East have to dig especially deep in order to afford their rent.
The students themselves, however, seem to be less concerned with their bills than they are with the speed of the internet in their new home.
University Crib’s research found that 83% of student renters are actively looking for a fast connection when hunting for a home. Other major considerations before renting a place include a double bed, which was ranked very important by 56% of students.
And whilst students seem to be happy to spend their money on rental accommodation, some investor are slowly shifting their view on student property investment.
Student property once was extremely attractive to many property investors. Reasons for choosing student property to invest in were easily found; no fuss, no need to deal with tenants and student loans almost guarantee cover of rental payments.
However, the investment also comes with a set of risks. The turnover is so quick, that a lot of the tenants don’t take great care of the place – especially when considering that for many of them, this is the first time living out of home. Student property ages quickly and therefore drops in value.
With a whole generation of renters – who bring a safe income, want to stay in the same place, and are looking for an actual home – on the lookout for great rental accommodation, some investors might find it worthwhile to shift their focus away from student property and give build-to-rent a go.