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The expansion of large developers moving into the student rental accommodation sector (especially when international students numbers are down) reflects, if Lancaster is any guide, a major move to cannibalise the business of local small scale renters using housing stock to accommodate students.
The big developers will claim they can offer better accommodation (broadband etc.) but really its just one more sector where consolidation into oligopoly is underway.
@ChrisMayLA6 There's also another reason why new student housing is being built in cities that need normal housing - developers can evade requirements for certain other facilities, and house people more intensely, thus making even more money. When, after a few years, they prove that there's too much student accommodation for demand, it is then 'converted' into housing.
Aha, an interesting extra element to the development (pun intended) - makes sense; I'll be watching the vast increase in student housing in Lancaster to see if that is how it plays out... but certainly isn'r implausible