A recent study by the Accommodation for Students website has highlighted how big the gap has become between the cost of renting student property in the south, compared to the north.
As might be expected, London students currently pay the highest average weekly rent, at £107.29 per week, which is down very slightly from £108.03 last year. At £45.94, the Welsh town of Pontypridd is the cheapest place to rent. Data was gathered from over 100,000 properties in 77 UK cities, and showed that an overall 2.4% increase in the cost of student accommodation had taken place – up from the average of £67.11 per week last year to £68.70 this year.
A number of university cities saw substantial leaps in rental costs this year, including Lancaster, which saw a rise of 24 per cent, and Hull, where costs rose by 25 per cent.
At the very top, Guildford, Exeter and Cambridge came in behind London – increases which arguably demonstrate the desirability of these universities.
Some argue that with more students going to university from higher income families, the demand for better quality accommodation has increased, shutting out lower quality houses and flats and increasing competition for refurbished or more modern properties – thus driving up rents.
If you’re one of our let property insurance customers who rents to students, and you believe this to be the case – or indeed disagree – then please leave a comment below.