The 2023/24 academic year has seen an average rental growth of 8% in purpose-built student accommodation schemes in the UK.
Strong student number growth in almost all major markets, rising operational and development costs, high inflation, and a declining rate of new bed delivery have pushed up overall rental growth, according to Cushman & Wakefield.
Glasgow has seen the strongest rental growth of 78 PBSA markets surveyed at 19.4%, with operators able to take advantage of a market in the midst of a city-wide housing crisis and strong growth in demand.
Manchester ranks second with 13.4% rental growth, followed by Newcastle with 12.6%.
They are followed by Durham and Leeds at 12.3% and 12.1% respectively.
Out of the 78 private sector PBSA markets only Luton and Guildford have seen overall rental decreases this year.
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