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Student digs an 'exciting' property market

08/08/2008

Some parents may be considering whether buying a property for their undergraduate offspring is a good investment, according to one newspaper.

A feature in the Times predicts that student accommodation will be one of the property market's "most exciting prospects" over the next few years.

It reported how one Manchester student called Rachel started flat-hunting after leaving halls of residence at the end of her first year but was not impressed with the state of rented accommodation.

Her father decided to buy a 12.5 per cent share in a two-bedroom flat at Pall Mall House in central Manchester.

Rachel and her two flatmates pay a total of £595 a month in rent and service charges.

"It's a wonderful flat in a great location," she told the newspaper. "Being on the property ladder will also help when I want to move into a house of my own."

Pall Mall House comprises 43 one and two-bedroom apartments in the Northern Quarter, close to Piccadilly train and bus stations.

It is also within walking distance of the city's university district.