The threat of ‘studentification’

Published 02nd Oct 2007

Forget about damp in the cellar, who lives next door can be just as important when deciding where to live, and how much to pay. As the academic year begins, students return to torment their neighbours...

Nightmare neighbours can take thousands off the value of a property, according to the latest research from propertyfinder.

The survey carried out by propertyfinder asked people to choose the best and worst types of neighbours from a range of categories. Squatters unsurprisingly top the list of neighbours from hell, with 93% of respondents voting these perennial outcasts as worst, but students came a close second with 60% of the vote.

Disruptive lifestyles
Unsurprisingly “slamming doors, arguments and drum kits” put families with teenagers third on the worst neighbours list for 36% of respondents, though families with young children didn’t fare much better, with 20%. Young flat sharers’ disruptive lifestyles mean that they polled fifth from bottom. Childless couples, pensioners and singles were voted the perfect neighbours.

It was hoped that the compulsory licensing of homes in multiple occupancy (HMOs) would go some way towards the elimination of so called ‘studentification’ in communities. Problems include untidy property exteriors, rat attracting rubbish over-spills, and headaches caused by loud music and rowdy revellers heading home after a night out.

The licensing means that landlords, or lettings agents are now responsible for the property and ultimately, the behaviour of the student residents. However, despite these steps, student ghettos continue to drag down house prices and students have polled as the second worst type of neighbour for the third consecutive year.

Results by propertyfinder also reveal concern among householders that unsuitable neighbours damage property prices by a lack of interest in the upkeep of their properties, dragging down property prices for surrounding homes.

Significant influence
Potential house buyers believe that squatters next door devalue properties by 18.2%, and students by a sizeable 9.3%. This equates to a massive £17,620 off the average house price. Party-prone flat-sharers affect property values by £7,957 while childless couples were thought to boost neighbouring values by over 5%.

Warren Bright, chief executive of propertyfinder, commented: “Students are notorious for having a good time and living in messy conditions, but our results show a greater concern among householders regarding the detrimental effect students can have on the price of their property.

“Our neighbours have a very significant influence on our quality of life, especially in urban areas, and increasingly, house hunters are prepared to pay a premium for a quiet, trouble-free life.

An address in a catchment area of a good school can boost your house price significantly, but you’ll do better if you don’t live next to any of the pupils!”

Source: ' Move Channel Ltd '

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