Student's rent price peaks in London
Posted: 10 Aug 2006 11:04:05 GMT
Students going to university in London pay on average around £100 per week in rent, making it the most expensive student area in the UK.
Research from Accommodation for Students (AFS) shows that the average rental for a house is around £58 per week in the UK. An increase of 3.3 per cent from last year's national average.
However London is by far the most expensive place to live with a rate that is 75 per cent up from the national average. Cambridge and Oxford are second in the price rankings but the rate is still significantly lower than in London; with the Oxbridge rental average standing at 38 per cent above the national rate.
Universities in the north benefit with some below average pricing. Liverpool, Manchester, Leeds and Sheffield all peak at the average or below. The cheapest areas are the more unfashionable university towns like Stoke, Wolverhampton and Middlesbrough.
Simon Thompson from AFS stated: "Now that students are accumulating large borrowings to subsidise their study the cost of accommodation has become a critical factor in their choice of university."
Students will be receiving their A-Level results shortly and this time of year is always hectic for prospective tenants and landlords alike. Housing for students is a profitable form of property investment and if the location is right, tenants are almost guaranteed.
Many property owners are choosing to rent out their homes privately saving on costs and dealings with middle men. This can also result in a better relationship between the landlord and the tenant because both parties have met and know who they are dealing with.