The average weekly student rent is currently £67.11, up 3% on last year and unsurprisingly London students are paying the most with an average weekly rent of £108.03, which up by 5% over the last year.
There have been some significant moves in the rent league table over the past year, with several cities showing 10%+ increases on last year led by Leamington Spa (Warwick University) which has seen its average student weekly rent rise by 16%, from £60.24 up to £70.47. Newcastle-under-Lyme ( Keele University) and Sunderland have seen 13% increases, to their current average weekly rents of £64.65 and £61.05 respectively.
Even the largest campuses have seen significant rise as Manchester, the UK’s largest student population, has experienced a 12% increase from last year, from £58.58 up to £67.04. Other movers are Bangor, up 11%, and Stoke-on-Trent, Cheltenham and Exeter up 9%, the latter now being the second most expensive place after London to rent accommodation in the UK, at £94.61.
Other cities that have seen an increase more than double the national average of 3% include Edinburgh at 8%, Bournemouth, Coventry and Bolton, all at 7%, and Cardiff, York, Reading, Crewe and Stafford at 6%.
Even the bottom of the table institution, Middlesbrough, which has an average weekly rent of £43.68, has seen a 5% increase from last year to £41.47.
Simon Thompson, co-founder and director of Accommodation for Students, said: “The rent increases for some cities reflect two key factors. One is the changing nature of accommodation coming on the market. The trend is for hi-spec, better quality student accommodation, and some locations are leading the way in this area.
“The other key factor is the popularity/desirability of attending some universities that puts pressure on the accommodation available and hence, the charging of higher rents. These popular universities such Exeter, Warwick (Leamington Spa), Edinburgh and, more recently, Manchester, come into this category, as have, in the past, Newcastle, Bristol and Durham. ”