Student Lettings in 2025: Why the Market Has Changed, Not Declined

If you’re a landlord with student property in Lincoln or Nottingham, you may have noticed something different this year: your property is taking longer to let each year. For many landlords, this is unfamiliar territory. Traditionally, by spring or early summer, most student houses were fully booked.

But in 2025, things are different. And while this has caused concern for some, the truth is: the market hasn’t weakened — it’s evolved.

The Lettings Cycle Has Shifted

One of the biggest changes in the student rental market is timing. Across the UK — and especially in Lincoln and Nottingham — the traditional “book early or miss out” rush has softened.

According to StuRents, far fewer students are signing for accommodation in November. More are holding off until spring — and even summer — before making a decision.

Universities are encouraging this. The University of Nottingham’s 2025 housing guide tells students:

“There is no shortage of accommodation in Nottingham, so there’s no need to rush.”

In Lincoln, the Students’ Union echoes the same message — book smart, not fast. It’s not just hearsay: Unipol reported that their own PBSA stock reached 96% occupancy in 2024/25 — but only after a longer-than-usual marketing period.

Demand Is Still There — It Just Looks Different

Letting timelines have shifted — but final occupancy remains strong.

In 2023/24:

StuRents found that PBSA schemes were 92.2% let by November — slightly down from the year before, but still robust.
The City of Nottingham noted a small but notable rise in PBSA voids — mostly in higher-priced studios — but overall demand stayed consistent.

For shared houses, the story is similar. Deals are happening later, but properties are still letting. The urgency has gone — but the interest hasn’t.

HMOs Still Offer the Best Value

Students are weighing up options carefully, and affordability is a big factor.

In 2024/25:

PBSA rooms in Nottingham averaged £198/week, while HMOs sat closer to £112/week (including bills).
(Source)
In Lincoln, the typical HMO rents between £105–£135/week, versus £140–£200/week for PBSA rooms and studios.
(StuRents - Lincoln)

That price gap matters. Students are increasingly aware of what they’re getting for their money — and many choose houses over halls for the freedom, space, and group living.

What This Means for Landlords

This year isn’t broken — it’s just different. The student cycle has changed:

Students are more informed
They’re booking later
They’re comparing options for longer

If your house isn’t let yet, you’re not alone — and you’re not behind. In 2025, May is the new March.

At Student Housing, we’ve embraced this shift. We’ve already let the majority of our stock across Lincoln and Nottingham — but we’ve done it by staying active all year, not just during the “traditional” window.

Our team: