At the start of September University of South Wales [USW] announced that it would be closing it's Caerleon campus. This could result in the loss of 145 jobs and over 1,000 students having to relocate from the Caerleon area of Newport. The closure is going to come into full effect in summer 2015, with students who are currently studying on the Caerleon campus having their courses moved to other campuses, mainly Cardiff and Treforest. The Newport city centre campus is going to take some of the students who are affected by the closure of Caerleon. The rest of the displaced students will be split between Treforest and Cardiff.
Current students have felt the effects of this change now, with students who have moved into their house with the expectation of studying on one campus and then being informed that their course was being moved to a different campus.
This is going to have an effect on the demographic of the local area and economy as students will no longer be living in the Caerleon and Maindy area. In the 2011 census by the Office on National Statistics, Newport's total population was 145,700. If over 1,000 students are leaving the area then local businesses will feel the effect with so many students being out of the Newport area. For landlords of Newport's student population this signals a change to the type of tenant who will be looking to rent a property in the Newport area. Here at Pinnacle letting Agency we have a range of products and services to make the switch from student to other tenant types as easy as possible.
Our advice would be to make sure you are not faced with an empty house from July 2015, contact us now, before a glut of empty properties hit the market.