Rents for student accommodation rise 8.5%

by Daniel Jones

Rent on students flats has risen significantly in the last year, according to the latest figures.

New research by easyroommate.co.uk found that there has been an 8.5 per cent increase in the cost of a room in a student flatshare over the last 12 months, taking the average monthly fee to £357.

Unsurprisingly, the most expensive part of the country is London, where student accommodation costs an average of £567 a month. The capital was followed by Cambridge and Oxford, where rents are £450 and £398 respectively.

The cheapest student rents were in Cardiff and Swansea, with rents of just £255 and £260 a month respectively. 

Rishi Patel, manager of easyroommate.co.uk, says: "Student rents are once again on the march, as student numbers begin to recover following the increase in tuition fees. Rents for student flatshares are now at their highest level in five years, which is increasing the financial pressure being felt by many students across the country."

This makes it a good time for landlords interested in joining the student rental market to make a purchase. Investing in a flat that can be rented out to a number of young academics could be a lucrative step and one that will pay off handsomely in the long run.

Lawpack's expert guide How to Make Money From Student Property outlines everything a would-be student landlord needs to know, including how to choose the right property in the right location and maximising the rent at the right price.

It's important to price up a property at the right level when it comes to setting the rent, as a discrepancy between what landlords want and what tenants are prepared to pay was highlighted in several cities.

The research showed that there are eight areas in which rents were higher than the maximum amount the local student population were willing to pay for a flatshare. The problem in Exeter is particularly notable, with the monthly rent of £385 and the £300 the typical student is willing to pay furthest apart of all.

Published on: September 23, 2013

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