In recent years there have been significant changes in the student housing market in Manchester with a gradual shift from traditional student areas of south Manchester to the City Centre and surrounding areas.
There are several reasons for this shift, some of them are the changes in student funding as well as the changes to the student Visa process. Another major reason are the growing alternatives of high-end private sector purpose-built student blocks especially because they are in close proximity of the main University campuses.
It is important for you, the traditional student property investor, to recognise this trend and to understand the effects this has on your student property investment.
According to a report by the Manchester City Council, MMU has seen a decline in the numbers of first year students applying to stay in their own managed Halls, and Salford University has also reported a 6% increase in students commuting from home from last year.
This means that the student housing market is increasingly competitive and you need to ensure that your student property stands out. For you as an investor, it is important to understand the students’ search behavior for their housing. What do they look for when choosing their accommodation? When is the right time to put your property on the market so you don’t miss the rush? What is the best price to market your property at? How and where do students look for properties? What other extras do you offer to make your property more competitive?
If you would like an answer to any of these questions or if you are looking for help with your student property then please contact our office on firstname.lastname@example.org to book in your free “Student Property Appraisal” and a one to one consultancy slot.