With House prices falling, the renting sector is becoming more expensive and is experiencing an almost mirror price change.
The cost of renting for students has increased by 20% in the past 4 years. Renting costs are rising because there is less supply of rented accommodation. Landlords are renting to more professional workers who can’t buy a house. The increase in cost of student renting is similar to the increased cost of general renting.
Regional Variations in Renting Costs
There is a huge disparity in the cost of renting throughout the country.
The highest cost of renting is predictably in London, where the weekly average is £102.
- Exeter rents are £78
- Leeds £62
The cheapest places to rent include:
Middlesbrough, Stoke, Wolverhampton, Crewe and Bradford. Here rents are less than £45 a week.
Students on a tight budget, would be advised to think carefully about where they study.
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