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Demand for student property in North West rises
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Another day, another report on student property investment. Today’s comes from The Mistoria Group and reveals that a growth in the student population has driven demand in the North West.
According to data from the investigation, students looking for high-quality, shared accommodation in the North West has rising by 48% year-on-year. Investor demand has risen further still, by 55%.
International influx
The report suggests that a rising number of international students attending University North West locations such as Salford, Manchester and Liverpool is pushing demand for accommodation upwards. In addition, the chance of substantial rental yields coming from affordable property in the North West is luring more investors to the region.
Separate research from Property Partner also saw the North West rank well for student investment. This investigation took 86 university towns and cities across Britain and ranked each property market by net rental yield. Results found that all three of Greater Manchester’s higher education establishments-the University of Salford, the University of Manchester and Manchester Metropolitan-were in the top ten.
Reasonable returns of 4.4% can be generated in some parts of Manchester. In Salford and Liverpool, landlords can enjoy excellent yields of 8% in some regions. Both these locations have experienced substantial regeneration in recent times, with further alterations to business and transports links promised in the near future.
Demand for student property in North West rises
Northern lights
Mish Lynange, Managing Director of The Mistoria Group, said, ‘we have achieved almost full occupancy for all the HMO properties we manage on behalf of landlords for the 3rd consecutive year, achieving 100% in Salford and 98% in Liverpool. We are inundated with enquiries still and have a long waiting list for students wanting high spec, shared accommodation.’[1]
‘We have also experienced a surge in investors wanting to buy our HMO properties in North West university cities. A combination of excellent yields and full occupancy is attracting investors. Post Brexit, we have also seen a 35% rise in international investors, particularly from India and China who are taking advantage of the weak pound. Our Manchester corporate office was set up recently to deal with our international investor and provide a one stop solution for all their investment needs,’ he added.[1]
[1] http://www.propertyreporter.co.uk/landlords/soaring-demand-for-student-property-in-the-north-west.html
