27 Jul

Tuition fees to increase demand for flats to rent in Bristol

Tuition fees to increase demand for flats to rent in Bristol

Higher tuition fees are likely to result in greater demand for flats to rent in Bristol and other university cities, HomesForStudents.co.uk has said.

Jonathan Moore, director of the online search tool, said renting in the private sector is becoming an increasingly attractive option for undergraduates who are put off by expensive university halls.

According to research by the company, the average student at a Russell Group university would save more than nine per cent in accommodation fees by choosing flats to rent in Cardiff or another town where the group has a university, compared with staying in halls.

"With higher fees kicking in next year, we expect demand for private accommodation to increase considerably, as savvy parents and students alike look to save money on costs and opt for more affordable flatshares," he said.

This may become an increasingly important component of university life, after research by HSBC revealed that one in ten parents will not help to pay for their child's university education, following the news that rising tuition fees will bring the overall cost of a degree to nearly £50,000.

Of the 1,000 parents questioned, more than half said they have not yet started to save for their child's university costs, while 26 per cent are encouraging their children to live at home while they attend higher education.

A smaller but significant proportion are taking drastic measures, such as getting a second job or renting out a room, to cover the cost.

Mr Moore went on to say that, unsurprisingly, flats to rent in London are "by far and away" the most expensive in the country, followed Cambridge and Oxford.

"While properties in London will require a bigger initial investment, the strong competition for rented accommodation and the lack of supply is pushing up the amount landlords are able to pocket each month - and keeping void periods to a minimum," he added.ADNFCR-1222-ID-800636476-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.