Latest research from Accommodationforstudents.com has revealed the average weekly student rent for 2015 is now £82.09, up just £1.43 from 2014.
However, according to the average rents table, students attending six of the UK’s leading universities (Cambridge, Oxford, Imperial College London, London School of Economics, Exeter and University of Surrey) are likely to pay on average between £20 and £58 more per week than the national average.
The top three most expensive student locations are London, Cambridge and Kingston, while the three cheapest are Wolverhampton, Stockton and Walsall
Regional variations in rent values have remained, as students in the North of England continue to pay much less (£14.73 less per week) than students in the South, whilst students in and around London pay considerably more on average (£122.01 per week) than the rest of the UK. Students in Wales pay the least, with an average weekly rent value of £69.09, followed by students in Scotland who pay an average of £72.81 per week.
The top three most expensive student locations are London, Cambridge and Kingston, while the three cheapest are Wolverhampton, Stockton and Walsall.
Lancaster University was the only top-ten ranked university (The Complete University Guide for 2016) where average rental value for student accommodation fell below the national average at £78 per week.
Plymouth, Exeter, Nottingham and Liverpool were recorded as having the greatest range in weekly rents, a difference of between £138 and £146 between the lowest and highest rents recorded in these cities. For example, the lowest recorded rent in Plymouth was £39 but the highest was £185.
Luton, Bangor and Derby have seen this year’s greatest increases, up on average 20% on 2014.
For the first time (since rental data became available in 2005) more than half of properties available to students offer at least some bills included with the rent.
Simon Thompson, Director of Accommodation for Students said: “Unsurprisingly, the north/south divide in rent values remains apparent, just as in the private rented sector. Naturally rental increases in some areas will be governed by student demand but there appears to be some correlation between the highest ranked universities and cost of student accommodation.
‘Bills inclusive rental options are increasingly prevalent which shows landlords are reacting to student needs. Anything which helps students to manage their finances is appealing and I think this trend will continue to grow over the next few years as the cost of attending university creeps up.”