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Student Accommodation Research: House Hunting Budgets

Posted by Richard Ward

Image courtesy of Flickr, Creative Commons

The affordability of student accommodation continues to make headlines, with rent strikes targeting university accommodation highlighting the frustration felt by students.

For students house hunting for the 2019-20 academic year, the average budget set outside of London was £126pppw, sitting almost in the middle of the average advertised HMO and PBSA price. Unsurprisingly, StuRents' data suggests there are clear psychological barriers when house hunting, such as £100pppw and £150pppw, which operators should bear in mind, albeit this varies dramatically per location.

Operators should also note that these budgets are becoming increasingly stretched. Whilst the average budget increased from £121pppw in 2018 to £126pppw in 2019, representing an increase of 3.8%, the average advertised rent (weighted for HMO & PBSA) increased by 4.8%.

Long-term this trend is even more apparent. Between 2017-2019 student budgets have increased by 5.3% at a national level (ex-London), whilst advertised rents have grown by a weighted average of 9.0%. Whilst the HMO sector can still offer a more affordable option and within budget, on the whole, rental growth is outpacing increases in student budgets.

Average House Hunting Budget

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The extract above has been taken from our 2019 UK Student Accommodation Annual Report. To understand more about our market leading analytics and to receive a copy of the report register here.

About StuRents:
- StuRents is one of the leading proptech partners in the UK student accommodation space

- StuRents operates, the largest student-centric accommodation search platform, listing over 750,000 bed spaces nationwide

- Beyond search, StuRents facilitates integrated online tenancy signing, tenancy payments and app-based tenancy management solutions

- This unique, vertically integrated end-to-end solution underpins StuRents' data insights and research capabilities