Agent predicts shortage of rental stock in Liverpool

THE managing director of a Liverpool-based lettings agency is predicting that September will prove to be a record month for new business in the city centre.

Alan Bevan of City Residential said that September is recognised as the busiest month in its calendar, due largley to the new influx of around 20,000 students looking for acommodation.

However, he predicts that this year’s intake is already being swelled as students rush to beat the higher fees regime being introduced in the 2012/13 academic year. He argues that this will put a severe strain on stock in the private rented sector.

“We always anticipate a busy period during August, September and October but this year has been absolutely manic,” he said. “At one point last week we had 28 tenants in the office and seven more waiting outside to get in!”

His company is almost out of available stock, with 11 potential tenants all wanting the same property and several others reserving apartments prior to viewing them. This is having a knock-on effect in rents, with the most popular apartment complexes increasing prices by 10% on last year.

Capacity in future years is likely to be alleviated by the University of Liverpool’s own plans to improve its housing stock. A £44m scheme to build a new 710-bedroom facility and a 250-seat resraurant close to its city centre campus is already underway. This is part of a wider £250m investment in a new student campus.

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