Student Accommodation Birmingham & The Rest of the UK – Contrasting Prices, or Contrasting Quality?
Many may speculate that the cost of Student Accommodation in Birmingham is anticipated to become a change in the next few months. However despite the soon to be realised fee rises, the need for student accommodation in the UK was described as ‘booming’ in 2011! The market was identified as the ‘best performing property investment sector’ in a broadcast circulated by the market leading letting agency Knight Frank (Published May 2011). They also publicise that the “total returns in 2010 for student accommodation in the regions did much better than every other property sector”. And moreover, James Pullan (Knight Frank’s head of student property) is quoted saying “The student accommodation sector is now recognised as forming a crucial 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 cities to invest in property in the UK. Student Accommodation in Birmingham is ranked at number 19. In a more recent report Knight Frank stated London student property proceeds increased by two fold in 2011! This is thought to be due to "Limited supply in addition to strengthened global appeal in the United Kingdoms educational excellence”. Which in conjunction “points towards further strong rental growth in the sector".
So, how does this effect the price of letting 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 in total.
In the Knight Frank Student Property report 2011; London, Brighton, Edinburgh and Oxford are ranked in the best five cities to invest in property in the UK. Student Accommodation in Birmingham is ranked at number 19. In a more recent report Knight Frank stated London student property proceeds increased by two fold in 2011! This is thought to be due to "Limited supply in addition to strengthened global appeal in the United Kingdoms educational excellence”. Which in conjunction “points towards further strong rental growth in the sector".
So, how does this effect the price of letting 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 in total.
For students who rent a room in a private shared address, this decreases to £245 or £10,290 over the same period.
The actual cost of letting in either University owned, or private halls of residence extends from around £110 to £190 a week. This value is largely influenced by; opting to move to the vale, the distance from University and whether you place a requirement for an en-suite. For private shared student accommodation the weekly rental price drops to in the region of £50 to £90. This value is based on the; distance to the ‘student area’, distance to university and other amenities (E.g. Tesco’s), amount of tenants sharing, size and finish quality of the accommodation, the provision of facilities (E.g. white goods), and whether bills are included (E.g Electric).
The RBS Student Finance survey placed Birmingham as the seventh most cost-effective student city, out of twenty seven locations in the UK. The survey included parameters such as; the price of letting student accommodation in Birmingham, food, shopping and more.
Whatever your position, if you are prepared to compensate on one or more variables above – it will hugely reduce the annual cost. For example, living close to University in a recently refurbished house with a medium to large number of rooms will be noticeably more than a identical house an additional 2 mile walk.
Considering the course cost rise beginning in the next academic year (2012-2013), its possible to estimate that the approximate rental ranges displayed above are not likely to alter too much when relating the fee increase to 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 regime will be the most prestigious institutions amid a flight to quality as students look for the very best course available for their money. The losers will be the least renowned institutions offering commercially uneconomical qualifications” (2012).
The RBS Student Finance survey placed Birmingham as the seventh most cost-effective student city, out of twenty seven locations in the UK. The survey included parameters such as; the price of letting student accommodation in Birmingham, food, shopping and more.
Whatever your position, if you are prepared to compensate on one or more variables above – it will hugely reduce the annual cost. For example, living close to University in a recently refurbished house with a medium to large number of rooms will be noticeably more than a identical house an additional 2 mile walk.
Considering the course cost rise beginning in the next academic year (2012-2013), its possible to estimate that the approximate rental ranges displayed above are not likely to alter too much when relating the fee increase to 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 regime will be the most prestigious institutions amid a flight to quality as students look for the very best course available for their money. The losers will be the least renowned institutions offering commercially uneconomical qualifications” (2012).
