Tuesday, 9 November 2010

An unusual sight

I cant remember this before  - 'To Let' signs still up after term has started.   Either

  • landlords are  taking advantage, leaving the signs up and having some free publicity
  • there are still vacant properties to let when all the students are back and hav somewhere to live.
I suspect (on no objective grounds whatsoever)  that its the latter.
The combined effects of Universities  being penalised for over-booking, the current poor employment  prospects for students and new developments at the top end of the student housing market means total numbers of students may be falling. Is this good or bad for Jesmond ?
The  wealthier students may go into the new build around the City. For the rest, if there is over-provision, then rents may fall. Some students will prefer to live more centrally saving on travel costs and time so empty rental properties may occur more peripherally in Newcastle and occupancy rates in Jesmond may remain higher than elsewhere.
If students have  less disposable income then the night-life of Osborne Road may take a hit and there will be less disturbance for residents. If the students living in Jesmond are poorer and don't have their own cars then parking may  become easier for residents.

Will an influx of poorer students be good or bad ? No idea, but at least parking will be easier.    

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