With A-level results day just around the corner, thousands of new students are about to swell the ranks of various universities across the UK. Counting the renowned universities of Liverpool, Preston, Salford and Manchester, the North West is a Mecca for students and each year, more and more of them are moving to the vibrant region.
With its expanding economic dynamism, led by MediaCity in Salford, and growing business opportunities, the North West is a location of choice for students aiming to work in creative and professional industries after graduating. This explains the popularity of these university cities, and with it the growing need for student accommodation in the region. Now more and more students tend to favour houses of multiple occupation (HMOs) instead of the traditional dorms. A HMO house share means more independence, which is usually what new students seek after leaving the family nest. This is why this kind of housing is in particular high demand in the North West.
In fact, the student property sector is continuously increasing, not only in the UK but around the world, making it a clever and solid choice for property investors. As a property investment, student accommodation is relatively low risk and provides a secure income. Occupancy levels remain high, especially when compared to the vacancy rates in some mainstream sectors, and most university towns remain under-supplied.
Unlike a typical buy-to-let, the rental yields on a HMO are much greater. Whereas buy-to-let properties are aimed at the residential/family tenant market and have monthly rental price for the property as a whole, HMO, which are generally aimed towards students, are charged on a per room basis. Therefore, HMOs advisible for a successful student property investment.
If you’re considering purchasing a student property investment in the North West, the Mistoria Group have a number of investment opportunities available. Speak to a member of the team today on 0800 500 3015 or visit www.mistoriagroup.com. Alternatively, email email@example.com and a member of our team will contact you to discuss your requirements.