Student housing demand is outstripping supply despite a drop in university applications.
UCAS announced yesterday that final student numbers for 2012-13 academic year fell by 7.4 per cent, as increasing tuition fees deter new UK students. Despite this drop from domestic applicants, which was expected by the organisation, the number of foreign students applying to study in Britain actually rose by 13.7 per cent, pushing housing demand up above supply levels.
"The reduction in applications means that 2012/13 applicant numbers are broadly in line with those of two years ago," Unite commented. "At this level, demand for university places still outstrips supply by approximately 32% and means that more than 156,000 students applying to study in 2012 will fail to secure a place."
Unite confidently predicts that rental yields will grow by 3.4 per cent this year as thousands of students seek accommodation.
Source: StockMarketWire.com
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