Tuesday, October 25, 2011
Increased rents drive students east
Hurford Salvi Carrâ€™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 Carrâ€™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.