Cheapest and most expensive locations
Top-10 cheapest cities and towns for private student rentals in 2024 (the price is average for both PBSA and HMO but excludes university beds):
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Aberdeen – £96.08
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Stoke-on-Trent – £100.51
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Preston – £107.00
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Huddersfield – £107.95
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Hull – £109:95
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Derby – £110.58
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Norwich – £116.54
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Newcastle-under-Lyme – £119.76
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Aberystwyth – £123.34
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Leicester – £123.77
Top-10 most expensive cities and towns for private student rentals in 2024 (the price is average for both PBSA and HMO but excludes university beds):
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London – £288.65
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Bristol – £220.77
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Glasgow – £204.77
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Kingston upon Thames – £202.64
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Edinburgh – £200.74
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Cambridge – £198.87
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York – £197.15
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Guildford – £189.96
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Durham – £188.07
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Bath – £181.72
Mike Ransford, Co-founder of StuRents, said: “Students choosing which university to attend should be aware of the cost-of-student accommodation. In some locations, a long-term shortage in housing has seen rental costs skyrocket.
Some cities will surprise people. Such as Glasgow where the average value of a house is £176,000, well below the national average, but due to a range of factors the student housing market is one of the most expensive in the country.”
Cities with the most acute student accommodation shortages
As students go through clearing, in some locations most of the student accommodation will already have been booked. This reduces choice and drives up costs.
Here is the list of five cities with the highest student accommodation shortages:
-London
-Glasgow
-Bristol
-Edinburgh
-Manchester
StuRents analysis shows it is highly likely demand growth will continue to outstrip supply growth. Overall, StuRents estimates that by 2027 up to a further 500k beds could be required in the UK. However, this estimation will change as more details about student demand from international students are available.
Richard Ward, Head of Research, said: “Some students going through clearing will find a real shortage of housing options. This can lead to students being forced to live in housing far away from their university or in low-quality housing.”
Drop in new purpose-built -student-accommodation
Data from StuRents highlights there has been a fall in the delivery of new purpose-built student accommodation since 2019.
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2019 – 37,883
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2020- 27,204
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2021 – 23,300
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2022 – 20,713
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2023 – 12,293
This drop in new housing is largely correlated with a rise in construction and debt costs since 2020, which have now stabilised at an elevated level.
Richard Ward, Head of Research, said: “Unfortunately, a rise in construction and debt costs, combined with a challenging planning environment has led to a slowdown in delivery of new student housing. In many locations, this has led to an undersupply of homes which is resulting in higher rental costs for this next cohort of students.”
Average cost of viewed accommodation by demographics
StuRents collect data on the average cost of accommodation that students from different backgrounds view. Below is the data for the 2024 lettings cycle so far outside of London:
The average cost for domestic students is £154.47 a week.
The average cost for Indian students is £149.80.14 a week.
The average cost for students from other Asian countries (China, Saudi Arabia, Hong Kong, South Korea and Singapore) is £190.67 a week.
Richard Ward, Head of Research, at StuRents said: “The data consistently shows strong differences in students’ rental budgets, with Indian and British students generally viewing properties around £30 to £40 cheaper than other Asian students.”
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