Student rent growth slows
Student rent growth is slowing in comparison to the wider flatshare market as university tuition fees and a fall in admissions begins to bite.
The price of a non-student flatshare room rose by 7.6 per cent over the last year, while student flatshare rooms went up by just 3.9 per cent.
Costs for halls of residence boomed by 5.5 per cent and thus began to close the gap on flatsharing which is nearly £1,200 cheaper per year for students.
The research from EasyRoommate.co.uk looked at rent levels across major British university towns.
Admission to universities is down this year by seven per cent, in no small part due to rising tuition fees.
Jonathan Moore, director of the flatmate search website, said: "The rise in tuition fees and the prospect of a debt mountain on leaving university was the final nail in the coffin for many would-be students.
"The drop in applications has eased the pressure on student accommodation and this has caused rent rises to slow compared to the wider market."
With the average annual tuition fee at £8,305 the total cost per year of fees and rent for halls of residence is £12,340.
That's £1,200 higher than the cost for those who decide to flatshare, £11,145.
Landlords are well placed to take advantage of this because they are able to offer cheaper alternatives to the often surprisingly plush university accommodation.
Moore continued: "Demand for amenities such as wi-fi, en-suite bathrooms and double-beds has caused halls of residence costs to grow faster than average student flatshare rents.
"While flatsharers don’t tend to get bills and cleaning costs included in their rent, the more people you share with the wider you can spread these expenses. And with the cost of university rising higher each year many students will be exploring every avenue they can to try and save money."
