Students looking to live in Leeds are being priced out of the rental property market by professionals unable to get a foot on the property ladder in the Yorkshire city, it has been suggested.
According to new
research from Accommodation for
Students, the average weekly rent in Leeds has gone up by more than seven per cent over the past 12 months alone to its current level of £62.
This is compared to £57 a week in nearby Manchester and £52 a week in Liverpool, highlighting the continued popularity of the city among the nation's students.
However, many may have to resign themselves to
moving into a smaller-than-desired place and make use of safe
storage solutions as landlords restrict supply by preferring to rent their properties out to the thousands of professionals unable to buy their way onto the
property ladder.
Simon Thompson, co-founder and director of the website explained: "The student accommodation situation has been worsened by the current credit crunch.
"Not only are costs going up but availability has been reduced as many former
student landlords are now renting to young professionals who can no longer afford to get on the
property ladder."
Over recent months a number of new property developments in Leeds city centre have been put on hold indefinitely as developers struggle with rising costs.
Anyone lowering their
property expectations and thereby struggling for
space may want to make use of
secure storage accommodation.
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