Property investors on the lookout for the best places in Britain to add to their portfolios have good reason to consider Manchester and Birmingham – not least the fact that these are among the UK’s most sought-after cities for those applying to university courses.
Furthermore, the overall number of prospective students in the country is on the up.
A new UK student housing update has analysed figures from the Universities and Colleges Admissions Service (UCAS), and the results suggest a very encouraging trend for the landlords and letting agents that may turn to a company like Yellow Oak Inventories LTD for a let property review in Birmingham or Manchester.
Even Brexit uncertainty isn’t hampering the sustained rise in demand
The UCAS data shows that more than 560,000 people applied to commence a full-time undergraduate programme for the 2019/20 academic year at UK universities. This represented an almost 2,500 increase on the figures recorded for the same point in 2018, and was also the first time in three years that applications had gone up on a year-on-year basis.
Digging further into the statistics, it becomes clear that a record number of applications from overseas students drove the overall increase. The 5.7% jump on the situation in 2018, in fact, meant that almost a fifth of all applications were from outside the UK.
Not only has China seen an especially impressive 33.3% year-on-year rise in prospective students, but increases were also noted for applicants from India, the United States and the United Arab Emirates (UAE).
Even the number of applications from students within the European Union (EU) went up, defying suggestions that the ongoing uncertainty about the UK’s pending departure from the bloc could have a chilling effect in this regard.
So, where does all of this leave landlords and investors?
Such a significant heightening in university applications, especially from abroad, should alert you to the opportunities that could await you to enjoy healthy returns if you invest in student property – especially if you target a city that has a strong student population already.
Manchester, for instance, boasts no fewer than four universities and 14 higher education (HE) institutions, to say nothing of the other universities and course providers in the surrounding areas. Meanwhile, Birmingham has seen steady growth in its rental market, and is home to over 60,000 students. It even has the distinction of being one of the youngest European cities, due to about four in 10 of its population being aged under 25.
While it is expected that buy-to-let properties will be subject to ever-greater demand from students in the years ahead, this trend is set to apply particularly strongly to regional cities with large numbers of students already – as is certainly the case for Manchester and Birmingham.
Are you in need of a let property review in Birmingham or Manchester from a company with a reputation for unparalleled professionalism, efficiency and flexibility in the UK property market? If so, the independent experts of Yellow Oak Inventories LTD are available to answer your call.