Agency fending off 50 enquiries for every available property

An agent in one major university city says it’s faced with 50 students applying for each available property.

Edinburgh residential property lettings, investment and HMO specialist, Cullen Property, says this is still the case even now in mid-November, 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&Bs with belongings in storage whilst they search the market.

Cullen Property’s managing director Steve Coyle says: “Our property managers are currently fielding enquiries on a daily basis, at 10 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 current stock available to rent is less than one per cent of its managed portfolio.