Average rents in some of the UK’s most popular university locations have increased significantly over the last year
As thousands of students begin a new academic year over the coming weeks, the website says those living in private rentals could be up to £600 a year worse off.
During the past year, the average rent of rooms in Oxford advertised on SpareRoom has increased by 10% – the highest growth recorded.
Those studying at the London School of Economics or one of Birmingham’s universities have benefited from the biggest dips in average rents over the past year – 5% and 2% respectively.
Undergraduates and postgraduates at Imperial College have to fork out the most each month, with an average rent of £1,131.
The cheapest average monthly rent is found in Dundee and the surrounding areas at just £323 per month.
London WC2, home to the London School of Economics, is the university location with the highest tenant demand, with an average of over five students looking at each available room on SpareRoom.
The lowest demand was recorded in Durham and Lancaster, with an average of fewer than one tenant looking at each available room in these locations.
SpareRoom reveals that some 93% of rooms advertised in Dundee are available to students, while the proportion drops to just 54% in Southampton.
“Students aren’t just battling rising rents, they’re also affected by a private rental market struggling to cope with demand,” says Matt Hutchinson, director of SpareRoom.
“That means choosing where you go to uni can have a huge impact on your debt after you graduate.”