We may still be some months off 2022, but property experts are already beginning to make their predictions for next year and what could be in store for the UK’s private rented sector.
With so much turmoil over the past 18 months, many will be looking to 2022 to deliver something of a new leaf for the property rental sector: the calm after the storm.
But is this realistic? And what will renters be looking for next year?
James Maguire, head of sales and business development at rent guarantor service Housing Hand, 2022 will be all about co-living, for both students and working professionals.
"With continued demand outweighing supply, the Build to Rent and Co-Living model continues to drive solutions to the housing market challenges. The PBSA (Purpose-Built Student Accommodation) sector will also continue to see growth in 2022, with investors seeing the long-term benefits beyond the pandemic,” Maguire said.
He also believes that low interest rates will mean that large investors see the UK as a great opportunity to see a greater return on investment. This will mean plenty of international interest in all forms of rental properties in the UK, from buy-to-let apartments and the Build to Rent sector to PBSA, according to Maguire.
“After a late surge in 2021, international students will continue to return to the UK in large numbers, as it continues to be one of the leading places to study. However, student numbers from the EU will continue to stay subdued, with the effects of Brexit and Covid still being felt in the higher education sector,” he added.
On the subject of private rentals, Maguire commented: “In 2022, tenants will continue looking for a more simplified approach to gaining access to renting.”
Regarding this latter point, Housing Hand says it has seen increased demand from accommodation providers of late for faster and more secure onboarding of their tenants - a trend which the company anticipates will be important in 2022.