Some student rents have increased by over 25 per cent in the past five years according to new research.
Specialist rental industry supplier Manor Interiors has found that while the cost of renting for the average student has increased by eight per cent since 2017, this climbs to 26 per cent in some regions.
Currently, the average student in Britain pays out £132 per week in rent, although in London it’s as high as £152 per week - the most expensive of all British regions.
However, London is one of just two regions to see the cost paid per week has actually fallen since 2017. Then the average London student paid £182 per week in rent but this has since fallen to £152 per week - a 16 per cent drop.
Scotland has also seen the cost of renting fall for students, with a two per cent decline since 2017 meaning they now pay an average of £127 per week.
Every other area of Britain has seen the average level of student rent increase.
The East Midlands has seen the largest increase, with students now paying £129 per week - that 26 per cent rise - while the North West and Yorkshire and the Humber have also seen student rental costs increase by more than 20 per cent.
The South West, Wales, and South East England have also seen a double-digit increase, with the North East, West Midlands and East of England under 10 per cent.
The chief executive of Manor Interiors, Farhan Malik, comments: “An extra £11 a week might not seem that significant but every penny counts when you’re a student and over the course of a year, they are now paying a considerably higher price in rent compared to just five years ago.
“The good news is that an increased cost of renting and changes to student financing have not dampened the appetite for university education and we’ve seen a record number of students choose to pursue a degree this year.
“More students looking to rent a limited level of accommodation is likely to keep rental prices buoyant - great news for landlords or purpose built student accommodation providers, but not so great if you’re a student.”
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