With all of the uncertainty surrounding Brexit in the UK at the moment the experts in the property market are at loggerheads with their predictions about which is the best way forward with property investment in 2019. Some experts will tell you that whatever Brexit we end up with the property market will still remain strong.
Others have a different view and believe that a bad Brexit will be disastrous for the UK property market. The truth is that nobody knows the right answer for sure. Amidst all of this uncertainty one market is crying out for more investment – the student accommodation market.
New Survey Reveals Sub Standard Student Accommodation
Many students in the UK are living in accommodation that is of poor quality according to a recent survey. Students in many university cities are very unhappy about the level of accommodation available to them and something needs to doing to improve this right away.
The survey showed that 25% of UK students are living in private rental sector accommodation that they deem sub standard. This probably won’t surprise you as for years university students have had a raw deal when it comes to private rentals.
Another key point in the survey was that many students felt they had no choice but to live in lower quality accommodation than they expected, because landlords were not able to offer then the kind of accommodation that they wanted.
The survey concluded that there was a real need for renewed investment in the student rental market especially in view of the fact that demand for good quality student accommodation has risen by 68% in the last few years. This demand is set to increase further and the private accommodation that students want is simply not available.
Specific Issues within the Private Rental Sector for Students
There were specific issues revealed in the survey conducted by the National Union of Students (NUS). Some 42% of students that participated in the survey said that they experienced problems with insulation and damp on a regular basis. A further 16% of the participants complained of a lot of electrical issues.
Dealing with landlords that didn’t know what they were doing came up a lot. There were 37% of students that had not received the correct documentation from their landlord to guarantee that the deposits they had made were safe. This has been a legal requirement in the UK now for some time.
Higher Quality Student Accommodation required
If you have not thought about investing in the student rental market then now may be a good time to do so. With a lot of students living in poor quality accommodation with unresponsive amateur landlords this provides a very good opportunity.
Students are rightly demanding a better class of accommodation and landlords that play by the rules and know what they are doing. The student market will grow whatever happens with Brexit so we recommend that you take a good look at the opportunities here.
There is no doubt that a good investment made in the student rental market would yield good dividends in our opinion. You need to do your homework as always to find the best locations but it is nice to know that there is something you can rely on in amongst all of the uncertainty.