Tuesday, October 25, 2011

Increased rents drive students east

Increased rents drive students east

Hurford Salvi Carr’s Docklands office has seen an unprecedented demand for accommodation from student tenants this year; a 70% increase in comparison to previous years. In contrast, Hurford Salvi Carr’s City and West End offices have reported the opposite; both have stated that their respective student markets have fallen by nearly 50%. This trend is a result of two major factors: Rental prices in the City and West End have increased by 15% in the last 18 months, effectively pricing students out of the area. Additionally, due to the global economic uncertainty many foreign students have curtailed their budgets, forcing them to source properties in areas not previously considered.

Posted by shanaka thanapathy @ 12:52 PM (1027 views)
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2 thoughts on “Increased rents drive students east

  • sibley's b'stard child says:

    I daresay that the 9k per year tuition fees are going to dampen demand from UK students. Whether the influx of well-to-do foreign students can offset the former remains to be seen.

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  • A 70% increase in numbers is meaningless without seeing more comparable figures. Maybe last year there were 10 students, this year there are 17 – that’s just not statistically significant.

    Anyway, I thought the government was clamping down on bogus colleges? Maybe they’re applying to the University of East London, 18% overseas students, ranked 115th (out of 119) by the Guardian. Applications for Sports Science were up by 25% last year thanks to an Olympics tie-in. Or maybe it’s the University of Greenwich, ranked 99th in the UK, with 25% overseas students. I could go on.

    While researching the above figures, I came across an advertorial for flats in Stratford in a Hong Kong newspaper. (Click on Property on the left to see another half-dozen ads for shiny new flats in London.) If they’re advertising property in London halfway round the world, no wonder local residents can’t afford to live here.

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