Manchester is branded as one of the best undersupplied major university cities outside London. As per the new research from global real estate advisor CBRE, only 4745 beds have been provided in Manchester since the year 2018 but the need for the PBSA has grown by 8100 full-time students in that particular time.
Currently, Manchester is known to have one of the most extreme supply and demand imbalances of student housing across the UK with a shortage of 23186 beds. In addition to it, Greater London is also struggling. There are around 106000 bed gaps since 2017/18.
There have been rising student numbers from different universities. Manchester has limited PBSA supply which has attracted many investors. This will make it a sought-after real estate market. As per the PBSA news, the city has the third largest student market across the country but it has witnessed low PBSA development activity across the past decade. The undersupply issue across Manchester positions it as the best city across the UK for PBSA investment growth over the next ten years.
There has been an acute shortage this year due to different factors comprising the growing demand for student accommodation in Manchester across the cities. You can find rapidly expanding universities as well as international students returning. The situation can deteriorate in the upcoming years.
The UK’s student population over here is the largest. The undergrad applications over here are going to grow by 25% to one million by the year 2030. There is a real opportunity throughout the country for landowners and developers and we have institutional funds actively looking for different opportunities which satisfy stricter and greener.
This gap between the supply, as well as the need for PBSA, highlights the mismatch between the pace of delivery as well as growth across the student population and the chronic requirement for student housing in Manchester. There will be a cost to investors who do not act now as the opportunities are scarce. The demand over here is strong in both the rental as well as investor markets.
Manchester student accommodation news stated which plans for approx. 1500 student accommodations throughout the city which are approved. However, the planning committee rejected a controversial student block for the third time. The University of Manchester plans to build the best accommodation on the Fallowfield campus. Manchester’s lack of student accommodation has raised some of the noteworthy concerns. In addition to it, this has attracted the attention of many investors who have seen some potential in the city’s real estate market. Moreover, the crisis extends beyond Manchester’s borders which have affected students throughout the UK. Some of the important action which is required locally. This has bridged the gap between supply and demand. The universities, investors as well as policymakers can easily tackle the challenge head-on. they also make sure that the housing struggles don’t drown all the advantages of higher education. the student rooms in Manchester are terrible, however, with the right kind of effort, this can pave the way for a brighter future.
Cost of living in Manchester
You will have to spend around £400-£800 per month. this will comprise the cost of the accommodation in Manchester like Clydesdale House Manchester, food, travel as well as other extra expenses. The tuition fee is not part of the monthly living expenses. you can bear in mind that the cost of living over here depends on one’s lifestyle. Whether you have your meals every day outside in restaurants or from the street vendors, the cost varies. It is always feasible to cook your food at your student accommodation in Manchester.
Similarly, where you buy your clothes from, how much money you spend on travel, how often you go out to party and other such expenses completely depend from one place to another. In addition, the type of student accommodation over here you select also plays an important role in one’s budget.
The cost of living in Manchester is provided below:
1. Tuition Fee for the university of your choice: (UG: £18,500 – £20,000)
2. Rent of housing: £350-£800 per month
3. Cost of Food or Grocery: £260-£480 per month
4. Cost of Gas and Electricity: £150-£250 per month
5. Cost of Internet & Mobile phone: £70-£150 per month
6. Cost of Dinner at a restaurant: £110-£230 per month
7. Cost of Laundry: £20-£30 per month
8. Cost of Travel (Buses, Trams, and Trains): £180-£280 per month
