Student accommodation is expected to become more available and therefore cheaper across Merseyside with over 1,000 additional beds coming onto the housing market this year.
While most cities are suffering from shortages in student rentals, Liverpool is one of few exceptions where beds are on the rise, alongside Leeds, Edinburgh, and Birmingham.
This will make it easier for those in education to find affordable places to live, with the decreased demand potentially leading to lower rents.
In the UK as a whole however, the number of new beds being introduced to the private student accommodation market has decreased by 15,505 over the last four years, according to new data.
Shortages of properties geared towards students will leave them little choice but to turn to options such as private rentals, which are more expensive.
In 2020, developers introduced 29,048 additional beds to the market. But, in 2021, there was a downturn, with a decrease to 18,737 extra beds.
In 2022, there was another drop in the number of new beds, with developers only adding 14,551, according to research performed by Confused.com mortgages, who analysed data on student accommodation in the UK to reveal key statistics on the current student property landscape.
But for now, it seems investment in Liverpool regarding this matter is on the rise. This is good news for students are for the city as a whole.
It is likely that more people will choose to study in Merseyside due to more accommodation being available, and therefore flats being cheaper to rent.
Featured image (c) LJMU
