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Students at Top Universities Pay Higher Rents
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Those studying at the country’s top universities are paying some of the highest rents, according to a new study.
Accommodation for Students revealed that those attending Cambridge, Oxford, Imperial College London, London School of Economics, Exeter and the University of Surrey pay between £20-£58 more in rent every week than the national average.
The research indicates that the student rental market has remained stable in most parts, with a slight increase in rents of £1.43 in the past 12 months. The average student rent is now £82.09 per week.
Students at Top Universities Pay Higher Rents
The only top ten university (according to The Complete University Guide 2016) where students pay less than the national average is Lancaster University at £78 a week.
Similarly to the overall rental market, there is still a wide north-south divide, with students in the north of England paying around £15 less than those in the south.
Those studying in Wales pay an average of £69 a week and Scottish students typically pay just £4 more.
The most expensive average student rents are in London at £140, Cambridge at £124, Kingston at £115 and Aberdeen at £109.
Students in Bolton, Middlesbrough and Wolverhampton pay an average of £62 per week, but the cheapest student accommodation is found in Walsall and Stockton at £48 and £49 respectively.
The greatest rises in student rents were experienced in Luton, Bangor and Derby, increasing at an average of 20% over the year.
Simon Thompson, Director at Accommodation for Students, says: “It’s great to see that the overall market has remained stable over the last year. This is positive for both investor landlords and students.
“Unsurprisingly, the north-south divide in rent values remains apparent, just as in the private rented sector.
“Naturally, rental increases in some areas will be governed by student demand, often determined by what courses are available, but it is interesting to see that there appears to be some correlation between the highest ranked universities and cost of student accommodation.
“Bill-inclusive rental options are increasingly prevalent, which shows landlords are reacting to student needs.
“Anything which helps students to manage their finances is appealing and I think this trend will continue to grow over the next few years as the cost of attending university creeps up.”1
1 http://www.propertyindustryeye.com/higher-rents-for-students-at-top-universities/
