COVID-19 continues to disrupt the UK Rental market place, despite the ongoing pandemic we managed to see a noticeable increase in demand for a UK Guarantor between November 2019 to November of the following year.
Primarily our service is used by International Students studying at UK institutions, but we saw an surprising 12% increase in the number of UK Students using our Guarantor service. We attribute this rise in guarantees to the wider financial uncertainty that many families in the UK face. Unfortunately, as parents and guardians of students are on full-time / part-time furlough or unemployed many are not meeting the original criteria of being a guarantor that they would have easily passed a year ago.
The pandemic has forced families to look at their financial liabilities, and households are less inclined to be liable for thousands pounds worth of rent they previously would have done. This coupled with the UK’s A-Level grading controversy in August 2020 explains why we experienced an increase in the number of UK Students using Housing Hand.
The volatility of COVID-19 and government regulations over the past year have meant that at Housing Hand we saw a drop in the number of International students using our service, this aligns to the wider data trends across the industry.
The continued shift towards online learning, the third UK Lockdown and the recent 10 day quarantine measures that are set to come into effect on the 15th February 2021, means that the January influx of students that the market expected will again defer until Summer 2021.
With all aspects of the student rental market incentivising students to book their 2021/22 accommodation early. Along with the continued roll out of the vaccines within the UK, we are hopeful that foreign students will return back to the UK for their education.
Primarily our service is used by International Students studying at UK institutions, but we saw an surprising 12% increase in the number of UK Students using our Guarantor service. We attribute this rise in guarantees to the wider financial uncertainty that many families in the UK face. Unfortunately, as parents and guardians of students are on full-time / part-time furlough or unemployed many are not meeting the original criteria of being a guarantor that they would have easily passed a year ago.
The pandemic has forced families to look at their financial liabilities, and households are less inclined to be liable for thousands pounds worth of rent they previously would have done. This coupled with the UK’s A-Level grading controversy in August 2020 explains why we experienced an increase in the number of UK Students using Housing Hand.
The volatility of COVID-19 and government regulations over the past year have meant that at Housing Hand we saw a drop in the number of International students using our service, this aligns to the wider data trends across the industry.
The continued shift towards online learning, the third UK Lockdown and the recent 10 day quarantine measures that are set to come into effect on the 15th February 2021, means that the January influx of students that the market expected will again defer until Summer 2021.
With all aspects of the student rental market incentivising students to book their 2021/22 accommodation early. Along with the continued roll out of the vaccines within the UK, we are hopeful that foregin students will return back to the UK for their education.
