Student Accommodation Birmingham & Everywhere Else – What Is The Real Cost Of Somewhere To Live?
One may have thought that the price of Student Accommodation in Birmingham is expected to become a little more varied in the coming years. However despite the looming course fee rises, the demand for student accommodation in the UK was defined as ‘booming’ in 2011! The market was grouped as the ‘best performing property investment sector’ in a broadcast circulated by global letting agency Knight Frank (Published May 2011). They also publicise that the “total returns in two thousand and ten for student accommodation in the regions did better than every 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 5 locations to invest in property in the UK. Student Accommodation in Birmingham is ranked at place 19. In a more current report Knight Frank publicised London student property earnings doubled in 2011! This is said to be due to "Limited supply together with strengthened global appeal in the United Kingdoms educational excellence”. Which in tandem “points towards further strong rental growth in the sector".
So, what does this mean for the price of renting Student Accommodation Birmingham?
The University of Birmingham estimate the cost of living for a single student over a 42-week academic session is £283 per 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 42 weeks.
In the Knight Frank Student Property report 2011; London, Brighton, Edinburgh and Oxford are ranked in the best 5 locations to invest in property in the UK. Student Accommodation in Birmingham is ranked at place 19. In a more current report Knight Frank publicised London student property earnings doubled in 2011! This is said to be due to "Limited supply together with strengthened global appeal in the United Kingdoms educational excellence”. Which in tandem “points towards further strong rental growth in the sector".
So, what does this mean for the price of renting Student Accommodation Birmingham?
The University of Birmingham estimate the cost of living for a single student over a 42-week academic session is £283 per 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 42 weeks.
The actual cost of renting in either University owned, or private halls of residence extends from approximately £110 to £190 a week. This figure is significantly influenced by; choosing to move to the vale, the distance from University and whether you opt for an en-suite.
For private shared houses the weekly rental price is reduced to approximately £50 to £90. This value is based on the; distance to the ‘student area’, proximity to university and other amenities (E.g. Sainsbury’s), number of tenants sharing, size and finish quality of the property, the provision of facilities (E.g. double beds), and whether bills are included (E.g Water).
The RBS Student Finance survey ranked Birmingham as the seventh most cost-effective student city, out of 27 locations in the UK. The survey included points such as; the price of renting student accommodation in Birmingham, food, shopping and more.
Whatever your situation, if you are prepared to sacrifice one or more variables above – it will dramatically reduce the annual cost. E.g, living close to University in a recently refurbished flat with a medium to large number of rooms will be noticeably more than an equivalent house an additional one miles away from Uni.
Considering the tuition fee increase commencing in the next academic year (2012-2013), its possible to estimate that the standard rental ranges stated above are unlikely to fluctuate too much when relating the fee increase to the demand for further education in the UK and Student Accommodation in Birmingham.
This point 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 fees. The losers will be the least prestigious universities offering commercially uneconomical qualifications” (2012).
The RBS Student Finance survey ranked Birmingham as the seventh most cost-effective student city, out of 27 locations in the UK. The survey included points such as; the price of renting student accommodation in Birmingham, food, shopping and more.
Whatever your situation, if you are prepared to sacrifice one or more variables above – it will dramatically reduce the annual cost. E.g, living close to University in a recently refurbished flat with a medium to large number of rooms will be noticeably more than an equivalent house an additional one miles away from Uni.
Considering the tuition fee increase commencing in the next academic year (2012-2013), its possible to estimate that the standard rental ranges stated above are unlikely to fluctuate too much when relating the fee increase to the demand for further education in the UK and Student Accommodation in Birmingham.
This point 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 fees. The losers will be the least prestigious universities offering commercially uneconomical qualifications” (2012).