Student Accommodation Birmingham & All Other Universities – What Will A Student Bed Cost Me?
Some people may think that the cost of Student Accommodation in Birmingham is likely to become a little more varied in the coming years. However despite the anticipated course fee rises, the demand for student accommodation in the UK was defined as ‘booming’ in 2011! The market was identified as the ‘best performing property investment sector’ in a report circulated by global letting agency Knight Frank (Published 5/2011). 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 head of student property) said “The student accommodation sector is now recognised as forming a crucial part of a balanced investment portfolio”.
In the Knight Frank Student Property publication 2011; London, Brighton, Edinburgh and Oxford are ranked in the top 5 cities to invest in property in the UK. Student Accommodation in Birmingham is listed at number 19. In a more current report Knight Frank wrote that London student property proceeds doubled in 2011! This is said to be due to "Limited supply in addition to rising global appeal in the United Kingdoms educational excellence”. Which simultaneously “points towards further strong rental growth in the sector".
So, how does this effect the price of renting Student Accommodation Birmingham?
The University of Birmingham estimate the price of living for a single student over a 42-week academic session is £283 a week or £11,866 for the whole period. For students who rent a room in a private shared flat, this decreases to £245 or £10,290 over forty-two weeks.
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 largely influenced by; deciding to live on the vale, the distance from University and whether you opt for an en-suite. For private shared student accommodation the weekly rental price declines to approximately £50 to £90. This value is dependent on the; proximity 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. mounted TV’s), and whether bills are included (E.g Broadband).
In the Knight Frank Student Property publication 2011; London, Brighton, Edinburgh and Oxford are ranked in the top 5 cities to invest in property in the UK. Student Accommodation in Birmingham is listed at number 19. In a more current report Knight Frank wrote that London student property proceeds doubled in 2011! This is said to be due to "Limited supply in addition to rising global appeal in the United Kingdoms educational excellence”. Which simultaneously “points towards further strong rental growth in the sector".
So, how does this effect the price of renting Student Accommodation Birmingham?
The University of Birmingham estimate the price of living for a single student over a 42-week academic session is £283 a week or £11,866 for the whole period. For students who rent a room in a private shared flat, this decreases to £245 or £10,290 over forty-two weeks.
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 largely influenced by; deciding to live on the vale, the distance from University and whether you opt for an en-suite. For private shared student accommodation the weekly rental price declines to approximately £50 to £90. This value is dependent on the; proximity 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. mounted TV’s), and whether bills are included (E.g Broadband).
The RBS Student Finance survey ranked Birmingham as the seventh most cost-effective student city, out of twenty seven cites in the UK.
The survey included points such as; the price of letting student accommodation in Birmingham, going out, shopping and more.
Whatever your position, if you are prepared to compensate on one or more variables above – it will vastly reduce the annual cost. For example, living close to University in a recently refurbished flat with a lot of decent sized rooms will be noticeably more than a similar property an additional 2 mile walk.
Considering the tuition price increase starting in the next academic year (2012-2013), its possible to speculate that the standard rental ranges displayed above are unlikely to alter too much when contrasting the quality of the courses offered at the Uni, and the demand for tertiary education in the UK and Student Accommodation in Birmingham.
This statement is drawn from the fact that Knight Frank speculates “The winners from the new tuition fees regime will be the most renowned universities amid a flight to quality as students hunt for the very best course available for their fees. The losers will be the least renowned universities offering commercially uneconomical qualifications” (2012).
Whatever your position, if you are prepared to compensate on one or more variables above – it will vastly reduce the annual cost. For example, living close to University in a recently refurbished flat with a lot of decent sized rooms will be noticeably more than a similar property an additional 2 mile walk.
Considering the tuition price increase starting in the next academic year (2012-2013), its possible to speculate that the standard rental ranges displayed above are unlikely to alter too much when contrasting the quality of the courses offered at the Uni, and the demand for tertiary education in the UK and Student Accommodation in Birmingham.
This statement is drawn from the fact that Knight Frank speculates “The winners from the new tuition fees regime will be the most renowned universities amid a flight to quality as students hunt for the very best course available for their fees. The losers will be the least renowned universities offering commercially uneconomical qualifications” (2012).