Students see rents go through the roof
Cost of student rents up 25% in some areas of country
School leavers waiting for their A-level results this week could have more than grades to worry about: the cost of student housing is up by as much as 25% year-on-year in some areas of the country.
On average, a student’s weekly rent has risen by 2.4% from £67 in 2011 to almost £69 this year, according to Accommodation for Students, which bases its annual UK-wide table of rents on more than 100,000 properties in 77 cities. Some places have seen rises of 10 times this much including Hull, where rents have risen 25%, Lancaster (24%) and Durham (20%).
“A key factor in determining student rents is the desirability of attending some universities,” said Simon Thompson, co-founder and director of Accommodation for Students. “That puts pressure on the accommodation available and, hence, the charging of higher rents. Winchester, Durham, Lancaster, Exeter and Newcastle come into this category.”
Not surprisingly, London is the most expensive place to rent as a student, with a weekly average of £107.29.
Accommodation costs considerably more for some students studying in the capital, particularly for those who opt to stay in the growing number of state-of-the art private halls of residence. Unite, the UK’s biggest developer and manager of purpose-built student accommodation, is charging up to £349 a week for students to stay in its newest development in Kingston-upon-Thames.
The university towns of Oxford and Cambridge have seen student rent rises of 7% to £86 a week and 2% to £92.70 a week respectively.
However they are both just outpriced by Guildford and Exeter, which are the second and third most expensive student towns to rent in the country. Rents in both are a typical £93 a week.
Students at the University of Glamorgan are paying the lowest rents in the country this year, at an average £46. Rents in Hull, which last year were not much more than in the Welsh town, have gone up from £48 a week in 2011 to £60 now.