The number of tenants leaving rented properties across the North West has fallen 27% year-on-year, tightening the supply of homes returning to the market as agents prepare for the next student letting cycle.
Figures from Thornley Groves suggest tenants are remaining in properties for longer, reducing the number of homes becoming available to new renters.
The Manchester letting agency says competition is particularly relevant to the city’s student market, where properties for the 2027/28 academic year are due to begin coming to market this month.
Average rents have also risen 5% year-on-year, with Thornley Groves putting the average monthly rent for a student property at £2,124.
STUDENT DEMAND
More than 100,000 students are expected to move or return to Manchester for the new academic year, creating significant demand across established student locations.
Thornley Groves says Fallowfield, Rusholme, Withington, Hulme and Manchester city centre continue to attract consistent student demand.
But it warns landlords cannot rely on demand alone, with well-maintained and properly furnished properties more likely to attract tenants quickly and reduce the risk of void periods.
The agency says students searching as a group should also prepare earlier, agreeing budgets and preferred locations and having identification, guarantor details and deposit funds ready before suitable properties become available.
NEW TENANCY RULES
The student market is also adjusting to changes introduced under the Renters’ Rights Act.
Most private tenancies have moved to a periodic model, while specific possession provisions allow qualifying student HMO landlords to recover properties in line with the academic year where the required conditions and notice requirements are met.
Changes to rent-in-advance rules could also affect some international students and others without UK-based guarantors who previously used larger upfront payments to secure accommodation.
Thornley Groves says this could increase the importance of guarantors or guarantor services for some students.
University halls and qualifying purpose-built student accommodation operate under different arrangements and can continue to offer fixed-term contracts aligned with the academic year.
LANDLORD PREPARATION
Thornley Groves says landlords preparing for the next student cycle should focus on property condition and presentation rather than assuming constrained supply will guarantee a letting.
It also advises landlords and agents to make rent, bills and other costs clear from the outset as students increasingly compare the total cost of different properties.
For investors, the agency identifies Fallowfield, Rusholme, Withington, Hulme and the city centre as areas where its current listings indicate sustained student demand.
