Online student letting agent StudentTenant.com has released its latest UK Student Accommodation Index, looking at the most expensive and affordable cities for student housing in the UK, as well as other key data about student property listings and trends.
The report analyses weekly rents paid by students in 2017 who booked accommodation in 56 university cities in the UK via StudentTenant.
Unsurprisingly, students in London spend the most on their rental accommodation, while those in Bradford, Stafford and Pontypridd spend the least per month. In the capital, students spend an average of £730 per month on rent – almost twice the UK average.
Top 10 most expensive cities (rent prices per month)
- London – £730
- Bristol – £510
- Bedford – £483
- Cambridge – £475
- Exeter – £462
- Sheffield – £420
- Huddersfield – £417
- Worcester – £415
- Portsmouth – £408
- Manchester – £404
The index also shows that the Midlands offer the majority of affordable student housing in the UK, with five of the top ten most affordable cities located in central England. Students living in these cities spend up to 61% less on their rent per month than the UK average.
Top 10 least expensive cities (rent prices per month)
- Bradford – £229
- Pontypridd – £238
- Derby – £241
- Sunderland – £249
- Stafford – £252
- Wolverhampton – £263
- Swansea – £282
- Crewe – £294
- Hull – £303
- Liverpool – £324
The Most Expensive and Affordable Cities for Student Housing in the UK
The Managing Director of StudentTenant, Danielle Cullen, comments on the findings: “It’s not surprising that London comes up top in the most expensive places to live for students. The market there has changed a lot in the last ten years, with a huge rise in purpose-built (PBSA) and luxury accommodation inevitably pushing up prices.
“That’s not to say that there aren’t affordable options available wherever students choose to study. As the market grows, we’ll continue to see a more diversified range of options that cater to different budgets, particularly as more competition starts to erupt between the PBSA providers.”
She explains: “It’s all about being efficient in your search, starting as early as possible to ensure you do not miss out on any deals, and being prepared to make a few sacrifices – like perhaps living further away from university, or having a smaller single bedroom.”
If you offer student housing, how do your rent prices compare?