'Lettings hysteria' as 20,000 students descend

THE arrival of 20,000 students determined to beat the hike in university fees has led to “lettings hysteria” in Liverpool this week, claims an estate agent which says it is all out of things to rent. 

Queues have been reported outside offices as the demand for rental accommodation has rocketed to a record high in the city, according to one of the largest lettings firms, City Residential. 

Although September is recognised as the busiest month in the year for letting agents in the city centre, 2011 looks like it will smash all records achieved in 2010, it says. 

Dezzy rezzy: The BullringAlan Bevan City Residential supremo, said: “We always anticipate a busy period during August, September and October but this year has been absolutely manic. Indeed at one point last week we had 28 tenants in the office and seven more waiting outside to get in.” 

It puts what it describes as an “absolutely manic” situation down to increased student fees not kicking in until the 2012/2013 term. This year’s intake at the city’s colleges and universities is set to be at an all time high, putting a “severe strain” on the stock available.

 “We have had a situation this week where we had 11 potential tenants wanting the same property and many tenants wishing to reserve apartments even before they had seen them,” claimed Phil Hartley Chambers director at City Residential. 

But market forces are never far behind such buoyant news. The increase in demand has also seen rents for some of the most popular city centre apartments rise by around 10 percent since May/June this year, it claims.