As figures demonstrate that fewer university applications have been filed for 2012 amidst fears of increased tuition fees, property critics have predicted that there could well be a decrease in the number of students seeking rental accommodation. Despite this, Rick Flay, director at Belvoir Sheffield, the leading lettings agency in Sheffield is reassuring investors that this is not a long term issue.
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of property to rent in Sheffield, said: “Investors looking at the student market have no need to worry, so far in Sheffield we have not seen a reduction in the number of students looking for rented accommodation and demand remains strong.
“Earlier in the year we had 18 groups of people turn up to view the same property in Sheffield and demand still continues to outstrip supply, making it a great long term investment for both the experiences and accidental landlord.”
As yearly tuition fees rose to as much as £9,000, fears that more and more students would look for work straight after school or college and bypass university altogether has worried some investors that the student market may see a dramatic decline.
Rick continued: “I see the fact that many young people will be looking for work straight out of college as a good thing. If they have good jobs at a younger age, they will still be wanting to fly the nest at around the same time as their friends who go to university, creating a new target audience altogether.
This has meant that there seems to be a new trend of ‘fresh out of school or college’ students wanting to earn money straight away and not take the university route, and this has been supported by an increase in applications from this group.
Reports have also suggested that it is a different story when looking at overseas students, as early figures show an increase in applications.
“It is important that landlords look at the bigger picture, and we may also find an increase of foreign students studying over here in 2012 to make up the shortfall. Based on what we have seen so far, we would expect that we will rent all of our student properties easily for 2012 and 2013.”, added Rick
Belvoir Letting Agents in Sheffield are the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Mortgages.
