{
  "reportPeriod": {
    "from": "2026-01-01",
    "to": "2026-06-30"
  },
  "compilationDate": "2026-09-12",
  "companiesHouse": {
    "label": "Student-labelled property-company / collateral-description cohort; charge instruments created in H1",
    "screenedChargeInstruments": 124,
    "screenedCompanies": 57,
    "monthly": [
      {
        "month": "2026-01",
        "charge_instruments": 31
      },
      {
        "month": "2026-02",
        "charge_instruments": 15
      },
      {
        "month": "2026-03",
        "charge_instruments": 27
      },
      {
        "month": "2026-04",
        "charge_instruments": 16
      },
      {
        "month": "2026-05",
        "charge_instruments": 12
      },
      {
        "month": "2026-06",
        "charge_instruments": 23
      }
    ],
    "quarterly": [
      {
        "quarter": "Q1 2026",
        "chargeInstruments": 73
      },
      {
        "quarter": "Q2 2026",
        "chargeInstruments": 51
      }
    ],
    "h1CreatedJulyFiled": 4,
    "methodology": [
      "This is not a census of PBSA or student-sector lending. Company-name matching misses unlabelled SPVs and can include other assets owned by student-labelled companies.",
      "Instruments are not loans or deals. One financing can generate multiple charges, security types, entities and titles. No loan amounts, leverage, interest rates, or terms are provided by this extraction.",
      "Persons entitled can be security trustees or agents; they are not necessarily the economic lender. Do not infer lender market share.",
      "created_on is the analytical event date. delivered_on is filing date. Present satisfaction status is not status at 30 June.",
      "Only 10 screened instruments explicitly mention student in collateral text; the wider 124 cohort is exploratory, not verified property occupancy."
    ],
    "sourceVintage": "Company snapshot 1 August 2026; charge data through 31 July 2026. H1 creation dates only."
  },
  "planning": {
    "label": "Observed student-related planning applications received in H1, after manual classification",
    "eligibleExportFiles": 288,
    "authorityLabels": 188,
    "h1KeywordRecords": 116,
    "classification": {
      "capacity_primary": 25,
      "operations": 8,
      "retrospective_capacity": 2,
      "flexible_exit": 10,
      "neighbour_consultation": 7,
      "planning_administration": 61,
      "lawful_proposed_conversion": 1,
      "listed_duplicate": 1,
      "unrelated": 1
    },
    "activityChart": [
      {
        "label": "Primary capacity proposals",
        "records": 25
      },
      {
        "label": "Flexibility or exit records",
        "records": 10
      },
      {
        "label": "Refurbishment and operating works",
        "records": 8
      }
    ],
    "methodology": [
      "Observed sample across local exports, not a UK planning census; authority labels can represent shared planning services.",
      "Eligible snapshots span H1, but coverage, relevance filtering and date resolution vary. Refused/withdrawn individual applications are not exposed in these latest exports; no approval-rate estimate is possible.",
      "Receipt-date cohort and decision-date cohort are different. Current exported bucket can reflect an H2 decision, which must not be backdated into H1.",
      "61 of 116 H1 received keyword records are planning administration; neighbouring consultations, listed consents and retrospective applications are separately classified.",
      "25 primary capacity-related applications include redevelopment, extension, conversion and a mixed-use outline; they are not 25 newly consented schemes or net additional beds.",
      "10 flexible-use/exit records include one pre-application and one lawful-use record; student restriction removal does not prove actual student-bed loss.",
      "Units and estimatedGdv are residential extraction fields and must not be summed as PBSA beds or PBSA gross development value. Original proposal text is authoritative for any selected capacity example."
    ]
  },
  "sold": {
    "label": "Observed H1 2026 residential sales in eight selected postal towns \u2014 market context only",
    "cities": [
      {
        "town": "BRISTOL",
        "observed_sales_h1": 4064,
        "median_price_h1": 350000.0,
        "terraced_observed_sales_h1": 1567,
        "terraced_median_price_h1": 344000,
        "flat_observed_sales_h1": 890,
        "flat_median_price_h1": 235000.0,
        "monthly_observed_sales": [
          {
            "month": "2026-01",
            "sales": 805
          },
          {
            "month": "2026-02",
            "sales": 758
          },
          {
            "month": "2026-03",
            "sales": 813
          },
          {
            "month": "2026-04",
            "sales": 672
          },
          {
            "month": "2026-05",
            "sales": 719
          },
          {
            "month": "2026-06",
            "sales": 297
          }
        ]
      },
      {
        "town": "EXETER",
        "observed_sales_h1": 712,
        "median_price_h1": 300000.0,
        "terraced_observed_sales_h1": 272,
        "terraced_median_price_h1": 270000.0,
        "flat_observed_sales_h1": 107,
        "flat_median_price_h1": 172500,
        "monthly_observed_sales": [
          {
            "month": "2026-01",
            "sales": 118
          },
          {
            "month": "2026-02",
            "sales": 146
          },
          {
            "month": "2026-03",
            "sales": 147
          },
          {
            "month": "2026-04",
            "sales": 135
          },
          {
            "month": "2026-05",
            "sales": 111
          },
          {
            "month": "2026-06",
            "sales": 55
          }
        ]
      },
      {
        "town": "LEEDS",
        "observed_sales_h1": 2854,
        "median_price_h1": 230000.0,
        "terraced_observed_sales_h1": 977,
        "terraced_median_price_h1": 185000,
        "flat_observed_sales_h1": 436,
        "flat_median_price_h1": 144250.0,
        "monthly_observed_sales": [
          {
            "month": "2026-01",
            "sales": 543
          },
          {
            "month": "2026-02",
            "sales": 553
          },
          {
            "month": "2026-03",
            "sales": 560
          },
          {
            "month": "2026-04",
            "sales": 526
          },
          {
            "month": "2026-05",
            "sales": 442
          },
          {
            "month": "2026-06",
            "sales": 230
          }
        ]
      },
      {
        "town": "MANCHESTER",
        "observed_sales_h1": 4053,
        "median_price_h1": 235000,
        "terraced_observed_sales_h1": 1447,
        "terraced_median_price_h1": 210000,
        "flat_observed_sales_h1": 839,
        "flat_median_price_h1": 179000,
        "monthly_observed_sales": [
          {
            "month": "2026-01",
            "sales": 785
          },
          {
            "month": "2026-02",
            "sales": 838
          },
          {
            "month": "2026-03",
            "sales": 839
          },
          {
            "month": "2026-04",
            "sales": 663
          },
          {
            "month": "2026-05",
            "sales": 670
          },
          {
            "month": "2026-06",
            "sales": 258
          }
        ]
      },
      {
        "town": "NOTTINGHAM",
        "observed_sales_h1": 3358,
        "median_price_h1": 220000.0,
        "terraced_observed_sales_h1": 944,
        "terraced_median_price_h1": 175000.0,
        "flat_observed_sales_h1": 282,
        "flat_median_price_h1": 133750.0,
        "monthly_observed_sales": [
          {
            "month": "2026-01",
            "sales": 643
          },
          {
            "month": "2026-02",
            "sales": 660
          },
          {
            "month": "2026-03",
            "sales": 647
          },
          {
            "month": "2026-04",
            "sales": 563
          },
          {
            "month": "2026-05",
            "sales": 600
          },
          {
            "month": "2026-06",
            "sales": 245
          }
        ]
      },
      {
        "town": "OXFORD",
        "observed_sales_h1": 559,
        "median_price_h1": 440000,
        "terraced_observed_sales_h1": 178,
        "terraced_median_price_h1": 436500.0,
        "flat_observed_sales_h1": 122,
        "flat_median_price_h1": 300000.0,
        "monthly_observed_sales": [
          {
            "month": "2026-01",
            "sales": 103
          },
          {
            "month": "2026-02",
            "sales": 115
          },
          {
            "month": "2026-03",
            "sales": 102
          },
          {
            "month": "2026-04",
            "sales": 101
          },
          {
            "month": "2026-05",
            "sales": 100
          },
          {
            "month": "2026-06",
            "sales": 38
          }
        ]
      },
      {
        "town": "SHEFFIELD",
        "observed_sales_h1": 2343,
        "median_price_h1": 205000,
        "terraced_observed_sales_h1": 732,
        "terraced_median_price_h1": 182750.0,
        "flat_observed_sales_h1": 318,
        "flat_median_price_h1": 136500.0,
        "monthly_observed_sales": [
          {
            "month": "2026-01",
            "sales": 461
          },
          {
            "month": "2026-02",
            "sales": 489
          },
          {
            "month": "2026-03",
            "sales": 511
          },
          {
            "month": "2026-04",
            "sales": 408
          },
          {
            "month": "2026-05",
            "sales": 363
          },
          {
            "month": "2026-06",
            "sales": 111
          }
        ]
      },
      {
        "town": "SOUTHAMPTON",
        "observed_sales_h1": 1928,
        "median_price_h1": 295000.0,
        "terraced_observed_sales_h1": 512,
        "terraced_median_price_h1": 270000.0,
        "flat_observed_sales_h1": 450,
        "flat_median_price_h1": 165000.0,
        "monthly_observed_sales": [
          {
            "month": "2026-01",
            "sales": 385
          },
          {
            "month": "2026-02",
            "sales": 378
          },
          {
            "month": "2026-03",
            "sales": 395
          },
          {
            "month": "2026-04",
            "sales": 310
          },
          {
            "month": "2026-05",
            "sales": 340
          },
          {
            "month": "2026-06",
            "sales": 120
          }
        ]
      }
    ],
    "methodology": [
      "England and Wales HM Land Registry residential Price Paid Data; postal town is not local-authority geography. Bristol and other postal towns extend beyond central university markets.",
      "H1 transaction dates from the annual 2026 CSV held in the Construction Capital sold-data lake, local file timestamp 6 August 2026. Late registrations, especially June, materially understate final counts. Do not infer a decline in liquidity from incomplete recent-month counts.",
      "Unique transaction GUIDs are the unit of observation; all selected records have A status. There are no duplicate GUIDs. Identical prices/addresses/dates with different GUIDs are retained.",
      "Median is the transaction-sample median, not a constant-quality price index, PBSA valuation, student-HMO valuation, portfolio price, or loan value. No annualised return or yield can be inferred.",
      "Generic sold export rolling medians were not used: many state dataAsOf 31 May despite showing individual June transactions.",
      "The existing charge_properties matched_price uses postcode/house-number heuristics and can choose another property. No such price is treated as a verified PBSA acquisition or collateral value."
    ],
    "sourceUrl": "https://www.gov.uk/government/statistical-data-sets/price-paid-data-downloads",
    "observedRecordCount": 19871,
    "duplicatesRemoved": 0,
    "sourceVintage": "Annual 2026 CSV retained in Construction Capital sold-data lake; local file timestamp 6 August 2026; H1 sale dates."
  },
  "verification": {
    "companiesHouseQueryResultSha256": "75cd302eb136947965de68e14e500cc1313c0ba5fd425ba10d7a8d1e2fe85aad",
    "soldQueryResultSha256": "ed4e382127176b9e038701224c11686688477507b81f7fc221c26c8ba869f211",
    "reviewedPlanningClassificationSha256": "6e8ff49cbe9b7a2fec76dd1090820dfa404012763c9768831360fe9e910365d8",
    "soldRawCsvSha256": "29222c20e87e0782559ff06546c232c975d5956015fe23d24106dd3e098979cb"
  },
  "publicationScope": "Aggregated market evidence. Transaction-level identities, counterparty mappings and record-specific source references are retained privately."
}