Increase in Student Rental Prices Double Due To North South Divide

The rents of student accommodation have been increasing steadily during the recent times and this has impacted the students at a large scale. Since the year 2012 the rental value of student accommodation has risen by a level of 3.1% and is still considered to be increasing because of the impacts of the rise in rental values in the south of UK. During the last year the rental value has been standing at the level of £77.04 that has increased to the level of £79.42 on average at this time. The price values of the rents also have a huge gap in the ones in North from the ones in South. The rental values in London are the highest to date despite all the increase and decrease in prices during the last two years. 

The rent value in London at the moment stands at £129 per week despite a decrease of 2% in the last two years making it one of the most expensive student areas in UK followed by Egham in Surrey and Leeds property houses that amounts to the figure of £115. The biggest hike in the rents has been seen in the areas of Newport, Wales that saw an increase from £56 per week to the highest level of £113 per week. This has been the major reason in the increase of the costs of living for students during the last years and is continuously piling up and is said to be increasing at a high rate as compared to the rent price hike in the south. This has also given a new idea of bills inclusive rents that are preferred by the students’ majority in the market especially student accommodation in Leeds. Most of the landlords are offering this service to the student tenants. The market of student rentals has a huge market and it is offering a great investment opportunity to the investors who have interest in property business in UK. 

The key factor in determining the rents for the student accommodation in Leeds and rest of the UK has been the increasing interest of students in higher education and the increasing opportunities of better future have also played a vital role in the price hike in the rents in the north as the opportunities in south have been rising sharply and has resulted in increase in rental prices in the north of the country as well. There have been more impacts being seen on the rental properties in the areas where the universities are offering incentives to their students in the form of scholarships, laptops and gym membership. The increase in the income has also resulted in improved accommodation and thus more rents to be paid resulting in the price hike in these areas.