Cost of UK student accommodation varies by up to £400 per week

Interesting new research has revealed that the average rent for student accommodation in Britain can vary by up to £429 per week.

The investigation from Accommodation for Students shows that cheapest student rents are located in Stockton, while the most expensive are in London.

Student Accommodation

On average, private halls of residence are some 90% more expensive than shared houses of flats. In addition, the research shows that average prices have risen across 28 university cities in the last week.

Overall, students located in the North of England and in Wales pay less. The average cost of student accommodation in Stockton is only £60 per week, while a studio in private halls in London Zone 1 averages out at £489 per week.

In private student halls, the typical weekly rent for a room stands at £168.67. However, those choosing to rent from a private landlord pay £88.61 per week on average. However, the number of private halls has soared, with 287 opening in 2017 alone.

The volume of students living in purpose built private halls is thought to have more than doubled in the last decade. Many are attracted to a more modern living environment and facilities such as gyms, games rooms and parking.

International students are also attracted to this type of accommodation, lured by easy online booking and in some cases, no viewings.

Cost of UK student accommodation varies by up to £400 per week

Cost of UK student accommodation varies by up to £400 per week

Capital Pains

In London alone, there is substantial variation in rental values, based on factors such as room type and location. For example, the average cost of a studio in private halls is £316.30 – some £90 more than shared facilities. However, prices in Zone 1 can range from £120 to £489 per week.

Wales is one of the cheapest locations to live as a student in Wales, where private accommodation is on average £68 per week- 55% less than London and 26% less than the national average.

The top 5 cities with the most expensive average weekly rents were found to be in the South of England, namely:

  • London-£129
  • Exeter – £127
  • High Wycombe – £125
  • Kingston -£115
  • Guildford -£121

On the other hand, cities with the most affordable student accommodation in England and Wales were found to be:

  • Stockton -£60
  • Wolverhampton -£62
  • Newport- £65
  • Swansea – £67
  • Cardiff – £69

Affordability

Simon Thompson, Director of Accommodation for Students, said: ‘Although private halls are increasingly popular with students, the affordability factor remains a consideration for many. We have seen an increase of properties at both the low and high ends of the market.’

‘This increased spread is likely to be due to both the introduction of more luxury student properties but also highlighting that there is still very much a place in the market for more affordable traditional student housing, as living costs and student fees continue to increase.’[1]

[1] http://www.propertywire.com/news/uk/student-accommodation-rental-costs-uk-can-vary-400-per-week/

 

 

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