New analysis by the Goodlord platform shows rental yields for student lettings are increasing. Greater London, the North East, North West, South East, South West and the West Midlands all recorded their highest average rents for the year-to-date for tenancies commencing in July 2021. This rebound comes after a difficult year for student lettings during the worst months of Covid last year.
The Goodlord analysis shows the North East region recorded an average rental price of £1,114 for a student let in July 2021, up from £967 for those which began in July 2020.
The South East also had a bumper month in July, with rents hitting £1,581 on average which is higher than the same time last year, when rents rose to £1,214 in July 2020.
Tom Mundy, COO of Goodlord, says: “Rents are rising and voids are dipping, for both student properties and the wider market. Agents are telling us that available rental stock is being snapped up incredibly quickly and some are even struggling to meet demand.”
“July and August are normally peak months for students moving into rental accommodation, so it’s not a surprise to see July’s spike in the figures. We would expect to see this continue through this month before cooling off. Overall, rental prices are higher in most regions right now than they were this time last year, which reflects a market operating with more certainty and nods to the optimism from students that their next year will be spent in their university towns.”