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Agency Reports Surge in Newcastle HMO Demand

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Newcastle-based Walton Robinson has suggested that demand for student accommodation is at an all-time high.

The agency has reported a 76% rise in properties let compared to the same period last year. Demand was reportedly very high in 2021-22 and a similar trend is playing out for the 2022-23 season too.

Expectations are students will look to secure their accommodation as quickly as possible, with more students attending Newcastle's universities this year. The increase in demand has led to a significant average rental increase of almost 5%, with sales prices reflecting the increasing attractiveness of student HMOs.