A new survey has revealed that rents paid by students look certain to increase, due to a housing shortage in many key university cities in the UK.
Data released by student rentals platform Studenttenant.com has assessed the demand for property in locations around the top universities in Britain. It has revealed that many students beginning their studies struggle to find suitable living accommodation beforehand.
Despite already being four months into the present academic year, many universities are still seeing heightened demand for student property.
Top of the class is the University of Exeter, with demand reaching 62%-the highest statistic for property demand surrounding a key University. Next come the University of Reading, the University of Bath and Bath Spa University, all with demands of 53%.
In addition, separate research conducted from Spareroom.com revealed that student rents increased by 10% during the last twelve months. In fact, demand for student accommodation in some cities is so fierce that rent competitive pricing could leave students £600 worse off per annum, according to the study.
The University for the Creative Arts in Farnham ranks fourth in the list compiled by Studenttenant.com. Demand for accommodation surrounding this university stands at 50%-with some first-year students forced to camp in the grounds as they couldn’t secure suitable digs!
The top-ten University locations where demand is exceeding demand are:
||University of Exeter
||University of Reading
||University of Bath
||Bath Spa University
||University for the Creative Arts
||University of Roehampton
||University of Essex
||Royal Holloway, University of London
Demand for student accommodation exceeding stock
Danielle Cullen, managing director of Studenttenant.com, said: ‘We feel that it is simply unacceptable that students, as they have in Farham, are forced to camp within the university campus due to a severe shortage of housing.’
‘Housing for students should be a priority. These pupils have worked hard to prepare for their education and to arrive without a place to sleep is worrisome. With many universities still seeing high levels of demand for student property this far into the term, it doesn’t bode well for those looking to arrive next year,’ she added.