Student Accommodation And Increases In University Fee's.. How Will This Impact My Rent?
Many may speculate that the price of Student Accommodation in Birmingham is anticipated to become a little more varied in the coming years. However despite the future fee rises, the requirement for student accommodation in the UK was described as ‘booming’ in 2011! The division was labelled as the ‘best performing property investment sector’ in a document circulated by the multi-national letting agency Knight Frank (Published May 2011). They also record that the “total returns in 2010 for student accommodation in the regions outperformed all other property sector”. And there is more, James Pullan (Knight Frank’s rep for student property) is quoted saying “The student accommodation sector is now recognised as forming a critical component of a balanced investment portfolio”.
In the Knight Frank Student Property report 2011; London, Brighton, Edinburgh and Oxford are ranked in the best five locations to invest in property in the UK. Student Accommodation in Birmingham is ranked at place 19. In a more up-to-date broadcast Knight Frank stated London student property earnings doubled in 2011! This is speculated to be due to "Limited supply together with increasing global attention in the United Kingdoms educational excellence”. Which simultaneously “points towards further strong rental growth in the sector".
So, how does this effect the cost of renting Student Accommodation Birmingham?
The University of Birmingham estimate the price of living for a single student over a forty-two week academic session is £283 a week or £11,866 for the whole period. For students who rent a room in a private shared house, this declines to £245 or £10,290 over the same period.
The actual cost of renting in either University owned, or private halls of residence extends from approximately £110 to £190 a week. This quantity is significantly influenced by; choosing to live on the vale, the distance from University and whether you specifically want a room with an en-suite. For private shared student accommodation the weekly rental figure is reduced to approximately £50 to £90.
In the Knight Frank Student Property report 2011; London, Brighton, Edinburgh and Oxford are ranked in the best five locations to invest in property in the UK. Student Accommodation in Birmingham is ranked at place 19. In a more up-to-date broadcast Knight Frank stated London student property earnings doubled in 2011! This is speculated to be due to "Limited supply together with increasing global attention in the United Kingdoms educational excellence”. Which simultaneously “points towards further strong rental growth in the sector".
So, how does this effect the cost of renting Student Accommodation Birmingham?
The University of Birmingham estimate the price of living for a single student over a forty-two week academic session is £283 a week or £11,866 for the whole period. For students who rent a room in a private shared house, this declines to £245 or £10,290 over the same period.
The actual cost of renting in either University owned, or private halls of residence extends from approximately £110 to £190 a week. This quantity is significantly influenced by; choosing to live on the vale, the distance from University and whether you specifically want a room with an en-suite. For private shared student accommodation the weekly rental figure is reduced to approximately £50 to £90.
This value is based on the; proximity to the ‘student area’, proximity to university and other amenities (E.g. Sainsbury’s), amount of tenants sharing, size and finish quality of the house, the provision of facilities (E.g. Wall Mounted TV’s), and whether bills are included (E.g Gas).
The RBS Student Finance survey ranked Birmingham as the seventh most cost-effective student city, out of twenty seven locations in the UK. The survey took into account; the price of renting student accommodation in Birmingham, daytime and evening entertainment, {restaurant prices, shopping and more.
Whatever your circumstances, if you are prepared to compensate on one or more variables above – it will vastly reduce the annual price. For example, living close to University in a recently refurbished property with a medium to large number of rooms will be noticeably more than an equivalent house an additional two mile walk.
Considering the course cost rise commencing in the coming academic year (2012-2013), its plausible to speculate that the current rental ranges shown above are not likely to move too much when contrasting the quality of the courses offered at the Uni, and the demand for higher education in the UK and Student Accommodation in Birmingham.
This statement is based on the fact that Knight Frank suspects “The winners from the new tuition fees structure will be the most renowned institutions amid a flight to quality as students search for the very best course available for their money. The losers will be the least renowned institutions offering commercially unattractive degrees” (2012).
Whatever your circumstances, if you are prepared to compensate on one or more variables above – it will vastly reduce the annual price. For example, living close to University in a recently refurbished property with a medium to large number of rooms will be noticeably more than an equivalent house an additional two mile walk.
Considering the course cost rise commencing in the coming academic year (2012-2013), its plausible to speculate that the current rental ranges shown above are not likely to move too much when contrasting the quality of the courses offered at the Uni, and the demand for higher education in the UK and Student Accommodation in Birmingham.
This statement is based on the fact that Knight Frank suspects “The winners from the new tuition fees structure will be the most renowned institutions amid a flight to quality as students search for the very best course available for their money. The losers will be the least renowned institutions offering commercially unattractive degrees” (2012).
