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Sheffield (and Leeds) topped a list of university towns and cities that could benefit from more purpose-built student accommodation.
The report, from property consultants and specialists Savills, says that a massive 3,971 homes in Sheffield could return to the rental market for local families to use, if students swapped shared houses for purpose built student accommodation, alleviating the current housing shortage for families. This would result in a significant rise in the demand for high quality student accommodation in the city.
Grading cities according to their student provision potential, Sheffield was awarded a 2.1 for it’s strong research base and its attractiveness to the international student market.
The universities in Sheffield can only provide accommodation to 24% of their students. With around 11,500 bedrooms for about 49,000 full-time students, a massive 76% of students are left looking elsewhere for suitable accommodation
These students usually have to live at home or find alternative accommodation in the private sector.
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Sheffield boasts two of the UK’s largest universities with over 57,000 UK and overseas students – The University of Sheffield and Sheffield Hallam University.
The University of Sheffield is a member of the elite Russell Group, and ranked the 40th best university in the world. Sheffield Hallam University is the 8th largest university in the UK, with over 33,000 students.
The University of Sheffield was voted the Sunday Times University of the Year and the city has been voted the Most Popular UK Student Destination. Subjects of world-renowned excellence between the two universities include engineering, property, design and dentistry.
According to the University of Sheffield, 92% of graduates find employment, with the two universities producing around 12,000 high-calibre graduates each year.
Sheffield is a large and vibrant university town, boasting a rich industrial history that was built on steel, engineering and cutlery — all of which have established a worldwide reputation.
Sheffield is also one of the safest British cities to live and work in, with a third of it lying within the Peak District National Park which is a unique draw for many, as no other UK city has a national park within its boundaries. Sheffield also holds the title of England's greenest city, containing 150 woodlands and 50 public parks.
Boasting a population of 500,000, Sheffield also has a strong tourism angle and is home to multiple successful attractions.
It has a new modern city identity and for the very first time has clearly defined an approach to city marketing, targeting three main audiences including trade, talent and tourism within a new modern identity. With this increased understanding, the rental market in Sheffield is booming and rental yields are at an all-time high.
If you’d like to know more about how student property investment could be for you, give us a call on 01582 228299 or email us at email@example.com. You can even book a time online here and we'll call you then, for an absolutely free, no-obligation informal chat
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