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Will the student rental market be impacted by Brexit?
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Yesterday saw prime minister Theresa May announce that Article 50 will officially be triggered next week.
This, according to StudentTenant.com, is creating huge uncertainty surrounding EU students and the student market in Britain.
Students
With the UK preparing for life outside of the European Union, head of StudentTenant.com Danielle Cullen, has raised concern for EU students in Britain, alongside those who have invested in the market.
During the last academic year, 1.72m students were studying for academic degrees at UK universities. 120,000 of these students were from European countries.
It is looking likely that students from outside of the UK will have to apply for a student visa to gain access to higher education in Britain.
Cullen noted: ‘There’s undoubtedly a period of uncertainty ahead for UK higher education post-Brexit. Naturally, EU students, student landlords and UK universities are worried about the impending changes, and how they will be affected by them.’[1]
Will the student rental market be impacted by Brexit?
“From what we can currently deduce, EU students will be treated in the same way as international students. They’re likely to be required to complete a complex study visa to access our educational system. Not only is this another hoop that EU students will have to jump through, it may also mean tuition fees could rise for them,’ she continued.[1]
Declines
As such, Cullen is worried that there could be a large decline in the number of EU students studying in the UK following Brexit. This of course would have a detrimental impact on students, landlords and overall rental demand.
Concluding, Cullen said: ‘Experts are predicting a fall in applications to universities from EU students with the impending changes, and landlords will be feeling the strain. We could well see supply outgrow demand for student properties as we see fewer students at universities.’[1]
[1] https://www.landlordtoday.co.uk/breaking-news/2017/3/student-rental-market-hampered-by-political-uncertainty-surrounding-brexit
