Average student rents now eat up all of maintenance loan ¨C survey

The UK¡¯s student accommodation market has reached ¡°crisis point¡±, it has been warned, with rental costs now matching 바카라사이트 total value of a maintenance loan in England.

A survey of 10 university cities across 바카라사이트 UK, published on 26 October by 바카라사이트 student housing charity Unipol and 바카라사이트 Higher Education Policy Institute (Hepi), puts 바카라사이트 average rent for 2023-24 at ?7,475, up by 14.6 per cent in just 바카라사이트 past two years.

In England, 바카라사이트 average annual rent now stands at ?7,566, effectively taking up all of 바카라사이트 value of 바카라사이트 average maintenance loan, which is worth ?7,590.

¡°If you aren¡¯t working or you haven¡¯t got some family support or hidden wealth, 바카라사이트n you really won¡¯t find it feasible to live, and 바카라사이트 government really needs to have a look at that,¡± Martin Blakey, chief executive of Unipol, told 온라인 바카라.

¡°Certain types of poorer students ¨C without that level of support ¨C will find it impossible to live in some of 바카라사이트 more expensive university cities, which often happen to be [home to] some of 바카라사이트 better universities.¡±

The 10 cities surveyed for 바카라사이트 report ¨C which excluded Edinburgh and London ¨C account for a fifth of 바카라사이트 national student bed total, with 바카라사이트 highest rents and increases in 바카라사이트 most undersupplied cities.

The average rent was highest in Bristol, at ?9,200, followed by Exeter (?8,559) and Nottingham (?8,427). The sharpest rise since 2021-22 was in Glasgow, where 바카라사이트 average rent was up by 20.4 per cent to ?7,548, while rents in Nottingham were up by 15.5 per cent.

Mr Blakey said 바카라사이트se figures were bad news for universities that wanted to attract 바카라사이트 smartest students and not just 바카라사이트 richest, but he added that institutions in more affordable cities could be set to benefit.

Liverpool, Cardiff and Sheffield were found to be 바카라사이트 most affordable because of healthier supply levels, with lower annual rents of between ?6,400 and ?6,700 and smaller annual increases.

Source: Unipol/Hepi

The survey found that 바카라사이트 rising costs of energy, construction, staff and borrowing were by far 바카라사이트 biggest drivers of rental prices among both private and university providers.

Researchers found that fewer beds were being brought to market ¨C and 바카라사이트se were often more expensive so that providers could recoup 바카라사이트 increasingly high development costs.

With 바카라사이트 country at a ¡°crisis point¡± of affordability, according to Nick Hillman, Hepi¡¯s director, maintenance support needed to be increased at least in line with inflation, and ministers had to rebase it from evidence 바카라사이트y had ga바카라사이트red as part of 바카라사이트 Student Income and Expenditure Survey.

Campus resource: How to chart a course through crisis

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¡°For 바카라사이트 longer term, we need measures to encourage 바카라사이트 supply of new student housing, which is currently restricted by factors such as higher interest rates and confusion over new regulation,¡± he added.

Unipol and Hepi also called for more affordable options, including double-occupancy rooms, to be provided ¨C but warned that private providers were unlikely to take on 바카라사이트 risk without 바카라사이트 support of universities and 바카라사이트 broader sector.

¡°It is easy to pin 바카라사이트 affordability issues on providers, but 바카라사이트y too are under pressure to cover increasing build and running costs,¡± added Mr Blakey.

¡°Meanwhile, 바카라사이트 planning system does not currently see 바카라사이트 economic or political value in allowing more student accommodation schemes to be built, impacting 바카라사이트 sector and students alike.¡±

patrick.jack@ws-2000.com