New Student Accommodation facilities Channing the Look of Newcastle

The demand for student accommodation is not only increasing in Leeds, but it is also on the rise in other parts of the UK too. This can be judged from a latest report of Chronicle Live which revealed that construction of new student accommodation in Newcastle is changing the face of area. The major development that is taking place in this regard is at Northumbria and Newcastle Universities that has huge potential for growth. To track the development of student properties in Newcastle, Chronicle Live has recorded the progress of such projects that were built between 2008 and 2013. When these projects were combined with current schemes it was discovered that nearly 10,000 new student rooms have been constructed so far.

This rapid increase in the construction of student properties has not only diverted the focus of investors in the Newcastle towards this investment, but has also made the people of the city worried. For the reason that people believe that if the growth rate of student properties continues to rise with the same pace the affected areas are likely to become “student ghetto.” Besides, this the local residents also think that construction of multi-storey buildings will ruin the area. Also, late light-night disturbance from students will have a bad impact on the communal. Moreover, once students will go home during their summer holidays the area will look completely deserted.

Arguing against this view the associate director of Nathaniel Lichfield & Partners, Ian Kettlewell said that the construction of student accommodation in the city will enable less rich families to move out of the area, as they have to migrate from the region. Now it remains to be seen whether this concern of local residents will cause any impact on the growth rate of students’ accommodation in the area. However, in Leeds things are little different because more and more local residents are looking to let their property on rent to students. And Oasis Properties is helping them a lot in this regard, as it has specialised in student and professional lettings. 

Latest Report Claims by 2032 Half of the Population in UK Will beLiving on Rent

A latest research report from an ex-economist of Bank of England has predicted that by 2032, less than half(49.2 percent) of the people in the United Kingdom will have their own homes. Whereas, rest of the population in the country will rent their homes instead of having their own, claims the report that was published by the Intermediary Mortgage Lenders Association on Friday, May 16, 2014. According to the latest report, soon only old people will have their own homes, while for millions of young and middle aged people ownership of a home will become a dream. Homeownership was at its peak back in 2003, as then percentage of households was at 71 percent in England than, but now this figure is at its lowest level, 65.2 percent.

This means that within nest 18 years the percentage of homeownership will plunge down by 16 percent. If this prediction proves true then, it will be the first time after early 70s when most of the people will be living onI rented accommodations instead of their own houses. It is because of this very reason young people were called ‘Generation Rent’ in the research report. However, if things really got that worse then, this term is most likely to become ‘Nation Rent’. Already the average price of a house inthe UK has bounced up to £250,000 that is roughly nine times more than the average salary of person, who is earning close to £27,000.

The IMLA report has made this prediction because so far government has not purposed any new policy that addresses the shortage of new houses. Due to this reason, the report has warned that if soon no measures will be taken against this problem then, majority of the people in the UK, whether from social or private sector, will be renting by 2032. The Department for Communities and Local Government Currently has revealed that currently there are 14.3 million homeowners in the England and of them most of them are 65 and above age. 

In this age group 4.6 million people have their own homes. After them people between the age group of 45 to 54 comes at number two, as they own 1.6 million homes. In contrast to them, ‘owner occupiers’ between the age group of 35 to 44 have a 2.5 million share. The executive director of IMLA, Peter Williams said on this occasion that this problem has arisen because of failure to build new and enough homes. 

It is not clear whether government will take an action on this report to overcome the shortage of new homes or not, but one thing is for sure that if you need a property on rent in Leeds then, Oasis Properties is the one that will get you your dream space and at affordable price.

Leeds Property Government Finally Launches Garden Cities Prospectus

In the first quarter of 2014 the demand for student and rental properties has seen a sharp increase in Leeds because as compared to the demand the supply was low. Therefore, building new dwellings and homes is considered as the best solution to stabilise the demand and flow in rental market. That is relative to mortgage market at this point in time. The National Housing Federation has already raised this concern in front of the Government in the past few years by saying that it should do more in Leeds. However, now it seems that the Government is about to take an action on this proposal says the Association of Residential Letting Agenty.

Given that the Nick Clegg the Deputy Prime Minister has unveiled a garden cities prospectus of Government that will enable the local communities with no less than 15,000 houses and support of existing residents to come up with proposals. The communities which were then able to bring out strong expression of interest will be assisted by the Government to develop their proposals. Shedding light on the prospectus Clegg said that garden cities will be the communities where next generations will be able to live, work and grow old with their children. 

Adding to it, the Deputy Prime Minister said that the new prospectus not onlyurges local communities to come up with plans for affordable homes, schools, goods and jobs for future generation in the garden cities, but also enable them to save the countryside. According to Mr. Clegg the prospectus is a call for visionaries in the communities, who need houses, to bring forward influential and radical proposals for developing garden cities. 

In response to this publication, Secretary of Shadow Communities Hilary Benn MP severely criticised the government and ministry by saying that they had wasted four long years after creating much hype about the garden cities and now they are inviting expression of interest for its development. The secretary also said that ministers have failed to resolve the housing crisis as a result it will get more difficult for the middle and low-income earners to own a home, whereas rents will keep on rising and long waiting lists will grow even longer. Therefore, according to Benn MPpublication of garden cities prospectus has been over delayed.  

It remains to be seen now how local communities will react to the publication of garden cities. However, the way demands for new accommodation facilities is rising it is likely that it may generate some interest. On the other hand, currently those who cannot find a decent place to stay on rent can resolve their problem by acquiring the services of Oasis Properties, a specialist in providing student and professional accommodation.