Student rental demand soaring compared to last year, says agency

A north of England lettings agency is claiming an all-time record for enquiries relating to student accommodation - and the biggest demand is for a year’s time.

So far, for the 2022/23 academic year, the Newcastle-based Walton Robinson agency has let 76 per cent more properties than at the same point last year.

The agency listed its student properties just four weeks ago and lettings manager Kyle Dickson says: “Properties for the 2021 to 2022 academic year were in extremely high demand and we are already seeing a similar trend rolling into the 2022 to 2023 season.

“We expect many students will look to secure accommodation quickly and we’ve already seen a 70 per cent increase on enquiries compared with last year.”

With more students attending Newcastle’s universities this year, the agency says it’s also seen significant average rental increases of almost five per cent, with a knock on increase in sales prices, particularly for HMOs.

Operations director Mark Smith says: “This time of year is always busy from a lettings perspective, but this year has seen a huge increase in the amount of enquiries and subsequent lets.

“We’re really pleased with how rapidly these properties are letting and how this allows us to deliver such a high standard of service to our landlords.”

The agency provides landlord property management services in Newcastle upon Tyne and surrounding areas including let only, full property management and facilities management services.