It is unclear how the Brexit negotiations will affect the issue of visas for overseas students, but if the number of overseas students studying in Britain falls, then this could affect the student housing market, as an August 2017 Evening Standard article notes.
Last week’s publishing of A Level results will mean many students have university, and therefore accommodation, on their minds. Landlords are catering for this demand by providing student accommodation.
Currently, around 19% of students at UK universities are from outside of the country, and are either EU nationals or have visas entitling them to live and study in Britain. When Britain leaves the EU, it is not clear at present whether this will mean that student visas will be restricted. This is making some landlords reluctant to purchase new student properties as they cannot predict future demand for student accommodation.
The chief executive of the British Property Foundation, Melanie Leech, said:
“We would like to see the government resolve the issue of student visas and ensure that UK borders remain open to students, who remain an important part of a vibrant economy.”
While London has a growing number of students, there has been a reduction in the number of students in some university towns in Britain. This could be temporary as the number of people between the ages of 18 and 19 is set to increase over the next few years.
Estate agents Savills is confident that the student accommodation market will remain buoyant. Commercial mortgages to finance the purchase of student accommodation are available from a number of lenders.