Cambridge and Bristol are the most expensive student cities, according to a recent survey looking at the cost of living at Russell Group universities.
Figures were calculated by estate agent, Haart by looking at the lowest priced bedrooms in the private sector. Cambridge, which has educated the likes of Hugh Laurie and Sylvia Plath, topped the charts with rent prices of a whopping £97 a week. However Cambridge University’s Student Union state that renting directly through the university is “much cheaper”, despite the fact that single rooms are priced between £80-£120, with prices up to £140 for a room with an ensuite.
Second in running for priciest university went to Bristol, which had average rents of £96 a week. The university recommended that students prepare for living costs of between £6,700-£10,000, depending on personal expenses and choice of property. Average private rental costs are said to be between £3,380 and £4,420.
With an average national rent price of around £75 per week, the figures from Cambridge and Bristol seem excessively high. It should be noted that both of these prestigious universities charge the maximum tuition fee price of £9000, as do most of those in the Russell Group.
The survey found that the cheapest of the university cities was Liverpool with an average weekly cost of £54.25 for rent – way below the national average. Whilst Liverpool may have showed the lowest rent prices, it was Durham that was concluded to be the “best value for money”. Durham ranks highly in The Guardian and The Times league tables, with 5th and 6th place respectively. Average rent prices remain low at £62 a week.
Chief Executive of Haart Paul Smith said that many parents were becoming profitable from keeping a close eye on comparable rent prices in UK university cities:
“Canny parents are now taking advantage of strong rental markets in university towns and cities by buying properties for their children and then letting them out once their offspring has moved on.”
He added, “This pays for a discounted rent for their child and offers a long-term investment for them.”
Mr Smith suggested that for those looking for a good balance of cheap rent and low living costs should go to the city of Leeds, where average rent is £58.50 and a pint of beer is £2.45 – worlds away from London’s annual rent costs of £2,236 plus £3.60 pints.
The Russell Group contains 24 “leading universities” in the UK that are said to “operate globally” to attract international students as well as having a “strong role and influence within their regional and local community.”
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Written by Sarah Davis