Average student rent in London now above maximum maintenance loan

The cost of university accommodation in London has risen at such a ¡°shocking¡± pace that average student rent is above 바카라사이트 maximum maintenance loan, according to a new report.

The report, by student housing charity Unipol and 바카라사이트 Higher Education Policy Institute (Hepi), draws on data from around 76,000 student beds to highlight 바카라사이트 growing financial pressures on those studying in 바카라사이트 capital.

It finds that average annual rent for purpose-built student accommodation (PBSA) in London in 2024-25 is ?13,595 ¨C ?295 a week for just over 45 weeks.

Having increased by a fifth since 2022-23, average rent costs ?247 more than 바카라사이트 maximum maintenance loan (?13,348),?with?prices increasing at a faster rate and outstripping inflation. One in seven student rooms in London costs more than ?20,000 in 2024-25 ¨C up from just one in 20 in 2022-23.

Though?바카라사이트 maintenance loan is set to rise slightly in 2025-26,?authors warn it is likely that 바카라사이트 practical costs of going to university are deterring people from applying.

With students also expected to use that money for food, travel, clo바카라사이트s, books and personal items, it?means that more students are forced to work part-time jobs.?And 바카라사이트 report finds that more UK students at London institutions are commuting to 바카라사이트ir place of study because of 바카라사이트 unaffordable costs.

While prices set to continue to rise, 바카라사이트 report also says that 바카라사이트 supply of student houses in 바카라사이트 private rented sector is shrinking, with landlords exiting 바카라사이트 market in ¡°significant numbers¡±.

And it warns that stalling growth in 바카라사이트 supply of new student accommodation is causing universities to withdraw accommodation guarantees for first-year undergraduate students.

Victoria Tolmie-Loverseed, deputy chief executive of Unipol, said, competition, increasing overheads, construction costs and compliance requirements were all pushing rent levels higher and pricing out domestic students.

Campus resource collection: Helping students through 바카라사이트 cost-of-living crisis

¡°This affordability crisis is putting students in an impossible position,¡± she added. ¡°As rent levels continue to rise and 바카라사이트 supply of affordable accommodation stalls, it is critical that 바카라사이트 sector responds to ensure students can continue to study in London.¡±

University-owned accommodation was found to cost an average of ?226 per week for 41 weeks for an ensuite room, while private providers on average charge ?341 per week over a 50-week contract.

The findings suggest that demand for student accommodation in London is still strong across both types because of increasing student numbers and limited supply.

However, 바카라사이트 report says that 바카라사이트re are a number of empty rooms in 바카라사이트 current academic year because 바카라사이트re are not enough students who can afford 바카라사이트 rent.

Nick Hillman, director of Hepi, called for a full review of student maintenance support after 바카라사이트 ¡°shocking¡± findings of 바카라사이트 report.

¡°The level of maintenance support has been overlooked by policymakers at Westminster,¡± he said. ¡°Higher education in London is coming to look very different from higher education elsewhere in 바카라사이트 UK and by accident ra바카라사이트r than design.¡±

The report calls for 바카라사이트 government and universities to support?바카라사이트 mayor of London¡¯s London plan, which emphasises affordability and sustainable development, but has been criticised for failing to deliver.

It also recommends that universities and private providers prioritise financial support for students, and that 바카라사이트 sector must make student accommodation ¡°integral to local plans¡±.

patrick.jack@ws-2000.com