London rental market sees boost from overseas students 23 Feb 2021
Investment consultancy London Central Portfolio (LCP) have produced analysis suggesting that London is favoured by Asian students in particular, as a place to carry out their studies.
Data was taken from the Higher Education Statistics Agency, and highlights, what they are referring to as “a continued positive trend in Chinese student enrolments into the UK” with the 2019/2020 academic year showing a 15% growth in the enrolment of Chinese students which is the highest rate of increase in recent times.
Over a fifth of those students choose to study in London.
The chief executive of LCP, Andrew Weir, attributes the UK’s increased attractiveness to overseas students to “The UK’s safe haven status” and “diverse and liberal culture” making it more attractive than the US, which “has not seen growth rates above five percent since 2017.”
Despite fears that Brexit may have a negative impact on London’s image as a global city, Andrew Weir goes on to say that “the number of first year overseas students from the Asia region now vastly outnumbers the total number of students from all EU countries combined.”
According to the LCP’s research, the number of students from India enrolling into higher education in the UK nearly doubled in 2019/2020 compared to the 2018/2019 academic year.
What does this mean for London landlords?
The figures show that despite fears, overseas students are viewing the UK, and London, as a really desirable place to live and study. Despite disruption to the rental market and higher education caused by lockdown, these trends indicate a positive outlook for London property when the world are able to get travelling again.
These figures are certainly very welcome for landlords, providing hope during a time of uncertainty.