Seekers, formerly Walton Robinson, has reported seeing huge increases in demand and lower supply, with many local, national and international students competing for homes, particularly larger stock and HMOs.
Buy-to-Let and Investment Specialist, Kyle Dickson, said: “With the rise in demand for student housing, we’re finding that the current market in Newcastle is ripe for landlords looking to expand their portfolios.
“Because of the increase in the number of students coming to Newcastle, both international and domestic, we’re seeing an increased requirement for accommodation and a subsequent boost to rental yields.”
According to the Higher Education Policy Institute, participation in higher education has increased by nearly 25% since 2006, with the younger population projected to increase by 23% over the next decade.
Universities and colleges in the United Kingdom have also seen an increase in the number of student applications from Nigeria, China, and India this year, according to Universities and Colleges Admissions Service (UCAS).
Investment Director, Richard Ponton, said: “There is a surplus of reasons why the current climate would serve as the right time for investors to consider student properties, with high levels of demand at the forefront.
“With our knowledge and expertise in the local private rental market, we believe the demand is sustainable as student numbers are forecast to rise, but the pipeline of bed spaces is not keeping pace with the growth.”
Whether clients are looking to let, rent, buy, sell, invest or develop, Seekers aims to make the process simple.
Whilst they do all the things a typical estate and letting agent does, the agency’s core offering is twofold: a letting and management service for residential landlords and tenants, and a consultancy service for corporate investors and developers.
For more information, or if you would like to discuss renting or investing with us, call 0191 243 1000, or visit our Percy Street office.