Press Release: Cullen Property Reports 10 Fold Increase In Student Enquiries Amid Drastic City-Wide Property Shortage

Press Release: Cullen Property Reports 10 Fold Increase In Student Enquiries Amid Drastic City-Wide Property Shortage

Students resorting to B&B’s and securing smaller professional lets

11.11.2021

___________

Edinburgh residential property lettings, investment and HMO specialist, Cullen Property, reports they are currently receiving over 50 student enquiries per available property they market, despite the return to university in September.

Whilst Edinburgh student property demand usually peaks over the summer months, due to a drastic property shortage and huge demand, some students have been forced to reduce their desired larger group sizes and settle for one and two bed properties, usually let to professionals. Furthermore, some international students have even been staying in B & B’s with their belongings in storage whilst they search the market.

Steve Coyle, Managing Director, said, “Our property managers are currently fielding enquiries on a daily basis, at ten times that we would expect, from desperate students who are still looking for accommodation, well after the academic year has started. Whilst Covid has caused some universities to stagger their return dates and delayed some people’s travel, we’re still amazed at the huge numbers of enquiries for every property we have available. Many students have sadly been caught out, leaving their search too late to secure their dream home.”

“We’ve seen a knock-on effect in that larger student groups who might ordinarily have searched for an HMO property are now forced into securing one and two bed properties, usually taken by professionals. Some students have even resorted to desperate measures; travelling huge distances from other cities, or attempting to outbid others on the rental advertised, which is not something we engage with.”

“Our student tenants tell us they much prefer a typical older and larger, central Edinburgh property with high ceilings and big windows to a bespoke student property, but we simply don’t have the available stock to meet the huge demand, which isn’t abating despite being mid-November.”

Cullen Property is one of Edinburgh’s leading property management and letting agents, currently managing a large portfolio, including over 200 HMO properties. Cullen Property’s current property stock available to rent is less than 1% of its managed portfolio. The Cullen Property team specialises in both professional and HMO property lettings in Edinburgh, including property investment sourcing, acquisition and refurbishment in prime city centre locations.

-Ends-

 

For further media information contact Fiona Vernon at Niche Works on: 0131 669 0333 / email: fiona@nicheworks.co.uk.

 

CULLEN PROPERTY IMAGES

 

Notes to editors

Cullen Property

  • Cullen Property was founded in 1998 by two directors who believe passionately in the future of Edinburgh’s property market
  • The company specialises in acquiring and managing properties for clients looking to invest in and let out residential property in Edinburgh
  • It currently manages 380  properties and consistently achieves over 98% occupancy levels
  • Gold Winner, British Property Awards, 2021-22, Letting Agent Edinburgh (EH1-2)
  • For further information visit: www.cullenproperty.com

 

Read our other latest blog pieces here.

Related articles

dawnblog
The Private Residential Tenancy And The Private Rented Sector Post COVID-19
Pre-COVID I commuted daily on the Glasgow to Edinburgh train line.  I was intimately acquainted with spending an hour squished between a train door and strangers, sharing air of all things with hundreds of other humans.  I didn’t see a day coming where I’d do a mental risk assessment before leaving the house.  …
SteveBlog
The Outlook For Rent Controls And The Greens Influence
The recent alliance between the SNP and Greens has certainly focused attention to the potential effects this may have on housing policy.  However, prior to this, Scottish Government (ScotGov) had already begun working on a long term strategy,  titled  'Housing to 2040'.  The whole document can be found by
cullenproperty1
June Update From Cullen Property | Charity, Awards & Other News
Hello and welcome back to the Cullen Property blog! We hope everyone is excited for the beginning of Summer. We’ve certainly been enjoying the sun and warmer weather last weekend as we took a collective moment to breathe and recalibrate before pushing forward through the busy student letting season. This…