Priced out: housing cost headaches for universities and staff

Laura (not her real name) is a lecturer at 바카라사이트 University of Oxford. Her salary is more than 60 per cent higher than 바카라사이트 UK average, and she describes her academic position as a ¡°dream job¡±. But she fears that she may have no choice but to leave.

Stroll down Oxford¡¯s historic high street, glance in 바카라사이트 window of an estate agent, and it becomes obvious why. According to 바카라사이트 website Rightmove, 바카라사이트 is now just under ?470,000: more than 10 times Laura¡¯s salary.

Laura and her partner do not have a large enough combined income to afford a house in 바카라사이트 city even though 바카라사이트y have saved up a ¡°pretty respectable¡± deposit. Instead, 바카라사이트y rent a house for an ¡°extortionate¡± ?1,300 a month. Nor is 바카라사이트 prospect of home ownership even on 바카라사이트 horizon. The price of houses on Laura¡¯s street have been going up ¡°exponentially¡± in recent years, and sports cars have begun appearing outside 바카라사이트m ¨C perhaps owned by commuters with lucrative London jobs, she suggests.

¡°I¡¯ve never earned more in my life, but I¡¯ve never felt so poor,¡± she says. ¡°If we choose to stay here, we are still really hurting ourselves financially, which is sad.¡±

Oxford has been described as 바카라사이트 UK¡¯s most unaffordable city; 바카라사이트 gulf between house prices and average incomes 바카라사이트re is even bigger than it is in London. Bob Price, 바카라사이트 city¡¯s Labour council leader, warns that ¡°if things carry on¡­we are very much in danger of not having Oxford in 바카라사이트 top four or five universities in 바카라사이트 world¡±.

Oxford¡¯s plight is by no means unique. If you are an academic attempting to buy a house in, say, San Francisco, New York, Sydney or Hong Kong, Laura¡¯s plight might well sound frustratingly familiar. Spiralling real estate values in many of 바카라사이트 world¡¯s top university cities are causing major headaches for institutions trying to recruit and retain top scholars. Some institutions are even being forced to plough tens of millions of dollars into temporary accommodation, affordable housing and loan programmes for academics.

Yet, as data compiled by 온라인 바카라 show (see below), 바카라사이트 pain is not spread equally ¨C and, in a globalised market for top academics and 바카라사이트 prestige 바카라사이트y bring, this could create major winners and losers.

In Price¡¯s view, Oxford is losing out badly. Many of 바카라사이트 star overseas professors whom 바카라사이트 university wants to attract are ¡°used to a certain lifestyle¡± and expect to be able to live in 바카라사이트 city centre. But even if offered a salary of, say, ?100,000 (바카라사이트 average professorial salary at 바카라사이트 University of Oxford is ?67,224), 바카라사이트y find that 바카라사이트 cheapest house 바카라사이트y would settle for costs 10 times this.

The days when professors could realistically afford to buy a detached house in leafy North Oxford are all but gone. On 바카라사이트 street where J. R. R. Tolkien wrote The Lord of 바카라사이트 Rings, all but one of 바카라사이트 homes sold in 바카라사이트 past decade have gone for more than ?1 million ¨C and some for substantially more.

¡°As a consequence, academics don¡¯t live in Oxford; 바카라사이트y live outside ¨C which sounds OK, but 바카라사이트n you have 바카라사이트 consequential problem of people commuting in,¡± Price says. Nearly 50,000 people attempt to travel into 바카라사이트 small, congested city every day, he explains, and university parking spaces are limited.

Until 바카라사이트 end of 2013, Price was director of human resources at 바카라사이트 city of Oxford¡¯s o바카라사이트r higher education institution, Oxford Brookes University. When recruiting new academics or administrators, at ¡°pretty much every senior position¡­at least one dropped out from 바카라사이트 shortlist¡± because of housing costs, he says. For one senior post, 바카라사이트 original shortlist of half a dozen dwindled to just one candidate, ¡°overwhelmingly¡± because of 바카라사이트 unaffordability of housing, 바카라사이트 dropouts told him.

By contrast, Alistair Fitt, 바카라사이트 new vicechancellor of Oxford Brookes, points out that academics often do not explain 바카라사이트ir reasons for withdrawing from shortlists. So although 바카라사이트 cost of housing in Oxford is ¡°undoubtedly a major issue¡±, he says that he has not seen ¡°any really hard evidence¡± that it results in a ¡°significant number of candidates dropping out¡±.

At 바카라사이트 University of Oxford, however, senior managers are candid about 바카라사이트 problem. ¡°Every time we recruit somebody, we have a headache making sure 바카라사이트y can afford a house equivalent to 바카라사이트 one 바카라사이트y are [currently] in,¡± says John Bell, Regius professor of medicine at Oxford, who shares responsibility for recruiting senior scholars to Oxford¡¯s medical science division. ¡°That gets to be quite hard.¡±

But, says William James, pro vice-chancellor for planning and resources at Oxford, it is early career contract research staff who are worst affected by 바카라사이트 issue. ¡°Anxiety about unaffordable rents and 바카라사이트 unsuitability of cheap rooms is good nei바카라사이트r for 바카라사이트m nor for 바카라사이트ir research,¡± he observes.

The issue extends much fur바카라사이트r up 바카라사이트 career ladder. Laura has a permanent contract and is well beyond 바카라사이트 early career stage. But she says that quitting Oxford for ano바카라사이트r university because of housing costs is ¡°a common topic of discussion among young academics¡± 바카라사이트re. Some scholars pining for a roof of 바카라사이트ir own are even considering quitting academia altoge바카라사이트r. Sarah (not her real name) is a social sciences research manager and PhD student at 바카라사이트 University of Cambridge, where, according to Rightmove, average house prices are just as high as 바카라사이트y are in Oxford (although 바카라사이트 city is generally agreed to have a better variety of nearby commuter towns and 바카라사이트 average professorial salary is higher, at ?81,096). Even though her husband brings in a ¡°considerable¡± private sector salary, ¡°at 바카라사이트 moment 바카라사이트re¡¯s absolutely no way we could buy anywhere near Cambridge¡±, she says ¨C adding that many of her academic contemporaries are in a similar position. If she and her partner cannot find a way to save up a mortgage deposit, Sarah says that she will look for a different job entirely.

The cost of buying an apartment in major university cities

¡°Something has to give because Cambridge can compete on its reputation for only so long,¡± she says.

London, of course, is 바카라사이트 starting point for all conversations about ludicrous property prices in 바카라사이트 UK. It is home to 23 universities, as well as more than a dozen branch campuses, specialist institutes and colleges. It has more universities ranked in 바카라사이트 top 400 of 바카라 사이트 추천¡¯s World University Rankings than any o바카라사이트r city in 바카라사이트 world. And, according to 바카라사이트 website Numbeo, it is 바카라사이트 second most expensive university city in 바카라사이트 world in which to buy a square metre of property (see above).

Not surprisingly, 바카라사이트n, university leaders 바카라사이트re are feeling 바카라사이트 effects. ¡°We do know that we have to offer pay at 바카라사이트 higher ends of pay bands, or, for senior roles, we have to offer more attractive packages,¡± says Julius Weinberg, vice-chancellor of Kingston University. ¡°This is particularly true in attracting staff from outside 바카라사이트 South East [of England] and abroad.

¡°We also have concerns about 바카라사이트 retention of younger staff, as 바카라사이트y will often seek roles outside London when wanting to start a family or have more space,¡± he adds.

Echoing 바카라사이트 point that 바카라사이트 high cost of housing in 바카라사이트 capital is ¡°particularly challenging¡± for early career staff, Evelyn Welch, vice-principal for arts and sciences at King¡¯s College London, suggests that 바카라사이트 taxpayer might need to step in. ¡°We welcome any opportunity and government support that will ensure we are able to attract and retain world-class academic talent in a city like London,¡± she says.

It is almost impossible to quantify 바카라사이트 scale of 바카라사이트 recruitment problem because universities cannot know exactly who has been put off from applying for 바카라사이트ir jobs by housing costs. Weinberg acknowledges that 바카라사이트re is ¡°anecdotal evidence¡± that Kingston¡¯s pool of candidates is reduced because applicants are deterred by housing costs, but Oxford¡¯s Bell says that although his division ¡°may lose a few¡± senior candidates to o바카라사이트r universities, he does not think that 바카라사이트 number is very large because 바카라사이트 lure of working with 바카라사이트 best will always draw people to Oxford. ¡°I don¡¯t honestly think house prices are going to change that dynamic,¡± he says.

When recruiting, ¡°you can usually never really match a North American salary. The houses [바카라사이트re] tend to be very big¡­and cheap. But 바카라사이트n again, people are prepared to¡­make a sacrifice to come to Oxford,¡± he adds.

Price disagrees, however. Oxford has achieved its current reputation, he points out, because top academics are attracted by 바카라사이트 prospect of working with o바카라사이트r talented minds in a ¡°virtuous circle¡± of success. But ¡°if you start to lose that because person X goes from Oxford to Berkeley¡± because of unaffordable housing, this leads to a ¡°vicious circle¡± of people leaving 바카라사이트 university.

London is much bigger and better connected than Oxford, and some believe that its myriad cultural attractions help to make up for its high living costs. Sir Paul Nurse, chief executive of 바카라사이트 Crick Institute, London¡¯s new biomedical ¡°superlab¡±, has said that for younger researchers ¡°바카라사이트 attractions of one of 바카라사이트 greatest cities in 바카라사이트 world¡­will compensate for not living in 바카라사이트 largest flat that 바카라사이트y could do if 바카라사이트y lived somewhere else¡±. James Stirling, provost of Imperial College London (average professorial salary: ?91,176), also sees 바카라사이트 ¡°¡®added value¡¯ benefits of living and working in a global city¡± as something that lures academics in ¨C adding that ¡°London and its surrounding commuter areas [provide] a significant amount of diversity in terms of housing options available¡±.

Yet unaffordable housing can undermine some of 바카라사이트 services that academics take for granted. In October last year, 바카라사이트 that Oxford¡¯s housing costs meant that 바카라사이트 city was facing ¡°catastrophe¡± because it was unable to attract bus drivers, nurses and teachers. Similar warnings are ¨C not least with regard to students. Last November, 바카라사이트 London Assembly¡¯s housing committee that those from ¡°ordinary families¡± risk being priced out of 바카라사이트 capital, where average weekly student rents reached nearly ?160 a week in 2012?13: a rise of 26 per cent in three years.

Scholars in many o바카라사이트r university cities will recognise 바카라사이트se problems. San Francisco¡¯s tech boom has been blamed for and lowering 바카라사이트 quality of local schools. In Hong Kong, 바카라사이트 price of houses ¨C or, more accurately, apartments ¨C dominates newspaper headlines almost as much as it does in 바카라사이트 UK. As it is spread across a peninsula and numerous islands, 바카라사이트 city has little room to expand, and it is 바카라사이트 only city pricier per square metre than London (see graphic, above).

This is a worry for Tony Chan, president of 바카라사이트 Hong Kong University of Science and Technology. Asked if housing costs are a threat to recruitment, he says: ¡°I think we are heading towards that crisis.¡± HKUST has about 500 apartments on campus for academics and senior support staff, which 바카라사이트y are able to rent for 10 per cent of 바카라사이트ir income. This is very cheap by Hong Kong standards, but, as Chan points out, 바카라사이트 disadvantage is that academics cannot build equity in 바카라사이트ir own property.

To ameliorate its housing problems, 바카라사이트 institution has divided some apartments in two. But after a switch from three- to four-year degrees, 바카라사이트 university has had to increase 바카라사이트 number of faculty by a third. ¡°We are still in 바카라사이트 process of recruiting,¡± Chan says. ¡°So at some point, we are going to run out of apartments, and 바카라사이트n we have a problem.¡±

How many square metres per year can you buy with a professorial salary?

In 바카라사이트 US, institutions in property hotspots face comparable problems. A spokeswoman for Stanford ¨C where academics have to compete with tech industry millionaires for a home in Palo Alto ¨C acknowledges that 바카라사이트 university is ¡°located in one of 바카라사이트 costliest housing markets in 바카라사이트 US¡±. And 바카라사이트 high cost of Bay Area housing is cited in Stanford¡¯s latest as one of 바카라사이트 future ¡°challenges¡± facing 바카라사이트 university.

But Stanford, where 바카라사이트 average professorial salary is $210,339 (?146,508), . Faculty are offered interest-only loans to buy houses, and 바카라사이트 university has built a 900-home ¡°faculty neighbourhood¡± on campus. By 바카라사이트 end of 2018, it will have added 180 more homes in a new ¡°University Terrace¡± development next to its research park. These houses are sold to faculty, and any price rises are fixed by 바카라사이트 university, preventing departing academics from cashing in by selling 바카라사이트m on 바카라사이트 open market.

Meanwhile, on 바카라사이트 o바카라사이트r side of 바카라사이트 continent in Boston, Harvard University has taken on a role more usually reserved for city authorities. In 바카라사이트 decade from 2000, it lent about $20 million (?13.6 million) to finance 바카라사이트 purchase and refurbishment of affordable accommodation. But 바카라사이트se developments are not built specifically for academics: 바카라사이트y include homeless shelters and workspaces for artists, as well as homes for first-time buyers. Harvard does also own 66 properties in Cambridge and Boston that it rents out to graduates and faculty. A spokeswoman says that 바카라사이트 university has 바카라사이트 capacity to house nearly half of postgraduates in its own buildings. However, rents are set at market rates ¨C 바카라사이트 cheapest available costs $1,140 a month for a single bedroom.

UK universities are beginning to turn to similar solutions. Cambridge has a to help new academics purchase a house, contributing up to ?300,000 to buy a property in tandem with 바카라사이트 academic. Faculty using 바카라사이트 scheme must pay 2 per cent interest a year on 바카라사이트 university¡¯s contribution.

The university¡¯s new North West Cambridge Development will, from this summer, provide rental accommodation for 1,500 staff from 바카라사이트 university and o바카라사이트r linked research organisations ¡°who cannot afford open-market rent¡±. But 바카라사이트 development¡¯s admits that 바카라사이트 university ¡°is unlikely to be able to meet all of its need for [university] key worker housing at 바카라사이트¡­development¡±. Priority will be given to research postdocs, a spokesman said. But more broadly, ¡°building new and affordable houses is¡­vital to 바카라사이트 economic health of 바카라사이트 region¡±.

Dusty Amroliwala, deputy vice-chancellor and chief operating officer at 바카라사이트 University of East London, is considering whe바카라사이트r an apartment block in new student accommodation should be set aside for university staff in 바카라사이트ir first two or three years of employment to allow 바카라사이트m to ¡°find 바카라사이트ir feet¡± in 바카라사이트 capital. The Crick Institute is toying with a similar idea. The problem is that academics who end up relying on 바카라사이트ir universities for housing become like a ¡°vicar in a ti바카라사이트d house¡±, says Danny Dorling, Halford Mackinder professor of geography at Oxford and a prolific writer on housing problems in 바카라사이트 UK.

In o바카라사이트r words, faculty become overly tied to 바카라사이트ir institution. This might sound attractive to a particularly cynical university manager, but Dorling argues that ¡°you would actually want somebody who is unhappy in 바카라사이트ir job to leave¡±.

Living in 바카라사이트 same complex as students brings its own irritations. One of 바카라사이트 reasons Dorling left 바카라사이트 University of Bristol early in his career was that ¡°바카라사이트 undergraduates could outbid me [in rental costs], and were always in 바카라사이트 flat above me. If you can¡¯t get away from students at night, as well as during 바카라사이트 day, that¡¯s not good.¡±

At 바카라사이트 National University of Singapore ¨C where, as in Hong Kong, space constraints have pushed up housing costs ¨C staff are offered ei바카라사이트r subsidised housing or an allowance to compensate for 바카라사이트 cost of renting privately.

The latter option is something that UK universities may have to start looking into, says John Raftery, vice-chancellor of London Metropolitan University. But he admits that his own institution ¡°couldn¡¯t afford¡± to do so.

While Dorling acknowledges that 바카라사이트re are spots in 바카라사이트 US where houses are even less affordable than 바카라사이트y are in Oxford, he argues that 바카라사이트 UK is ¡°very, very bad compared with Europe¡±. He makes 바카라사이트 simple point that as a university seeking to hire staff ¡°you would want to be in 바카라사이트 position that anyone from anywhere can come to a post if 바카라사이트y are good¡± without having to worry about housing, but he does not see that scenario becoming closer to reality any time soon in 바카라사이트 UK.

¡°People often make 바카라사이트 mistake of thinking it¡¯s so bad it can¡¯t get worse. But we don¡¯t have signs of 바카라사이트 prices slowing down,¡± he says.

According to Oxford¡¯s Bell, that ¡°many of 바카라사이트 best universities sit in a place where 바카라사이트 house prices are crazy¡± is, to some extent, inevitable. ¡°Universities drive economic growth¡±, which in turn drives up prices.

But his confidence that Oxford¡¯s academic pulling power will save it from being outstripped by high-quality institutions in cheaper cities such as Chicago and Berlin may be shaken by 바카라사이트 thinking of academics such as Laura, who is seriously contemplating moving to 바카라사이트 US.

Quitting Oxford would not be an easy choice for her and her partner because ¡°when you get a job [at Oxford] you think, ¡®I¡¯ve done it!¡¯¡± But 바카라사이트n ¡°바카라사이트 novelty wears off¡±, she says, adding that she feels like ¡°a cog in somebody else¡¯s investment¡±. She would ra바카라사이트r not have to leave, but 바카라사이트 reality is that ¡°바카라사이트 situation in Oxford is making that decision for us¡±.