This year's growth in student rent has been much
quicker compared to the previous year, growing by 8.5% compared to
the 5% seen in 2012.
New research by website easyroommate paints a disquieting
picture for student renters with average student flathshare rents
exceeding what students are prepared to pay in one in three
university towns. The average student rent is now up to £357
per month - significantly higher than at the start of the last
academic year when the average student rent sat at a monthly rate
of £329.
Rising rent, rising student numbers
The upsurge in rents has seemingly been prompted by a growth in
demand due to higher student numbers. In 2012 university
application numbers fell, conversely university applications grew
by 7.2% in 2013 to 433,330 - the highest level seen in five
years.
77% of the 1,100 students in easyroommate's survey live in
private rental accommodation and over half say they have seen their
monthly rent rise in the last 12 months. This rise has seen a
fifth of students now share accommodation with more people compared
to the previous year in order to save costs, while just over a
quarter say they now have less finances spare for their social
life.
Landlord survey
In another survey involving 1,118 student landlords, only 27%
claim to have raised rents over the last 12 months while,
expectedly, only a minority (6%) have lowered rents. When
asked the reasons behind the change in rent 15% felt it was
disparity in supply and demand with a lack of available student
rental accommodation and increased demand from students. A
further 15% stated they had seen an increase in the cost of
mortgages which forced the rise in rental prices.
Coventry (18.6%) saw the biggest rise in student rents, London
(13.3%) was second and York (10.5%) a close third. The
largest fall in average rent was seen in Bath (11.2%).
London is still the most expensive place to rent for students
averaging out at £567 per room. The cheapest is Swansea
sitting at £260.
