Housing Hand’s figures highlight notable shifts in student rental market

Newly released data from UK rental guarantor service Housing Hand has highlighted the volatility currently being experienced across the UK’s private rented sector. The company acts as a rental guarantor for students and working professionals and has seen significant shifts in demand for its services over the period from November 2019 to November 2020.

Demand for rental guarantor services for students was notable for a number of reasons. While there was an overall increase in the number of students that Housing Hand guaranteed over the period, there was a drop-off in international students.

Student rent strikes across the UK are also feeding into this volatility. However, despite the unrest, Housing Hand recorded a 12% increase in the number of UK students using its service. The lower grade boundaries offered by universities following the UK’s A Level grading controversy in August 2020 has played a part in this.

It’s also likely that many parents and guardians who are currently on furlough or unemployed are now turning to Housing Hand to secure their properties. Even those still currently in employment may wish to avoid acting as guarantors themselves, in case that situation suddenly changes.