Student Accommodation Birmingham & All Other Universities – Is There Any Differentiation?
Many may speculate that the price of Student Accommodation in Birmingham is anticipated to become a little more varied in the coming years. However despite the anticipated fee rises, the demand for student accommodation in the UK was described as ‘booming’ in 2011! The sector was identified as the ‘best performing property investment sector’ in a broadcast produced by the market leading letting agency Knight Frank (Published May 2011). They also write that the “total returns in 2010 for student accommodation in the regions did better than every other property sector”. And there is more, James Pullan (Knight Frank’s representative of student property) is quoted saying “The student accommodation sector is now recognised as forming a vital component of a balanced investment portfolio”.
In the Knight Frank Student Property document 2011; London, Brighton, Edinburgh and Oxford are ranked in the best 5 locations to invest in property in the UK. Student Accommodation in Birmingham is ranked at place 19. In a more recent report Knight Frank wrote that London student property proceeds increased by two fold in 2011! This is said to be due to "Limited supply coupled with intensifying global interest in the United Kingdoms educational excellence”. Which in conjunction “points towards further strong rental growth in the sector".
In the Knight Frank Student Property document 2011; London, Brighton, Edinburgh and Oxford are ranked in the best 5 locations to invest in property in the UK. Student Accommodation in Birmingham is ranked at place 19. In a more recent report Knight Frank wrote that London student property proceeds increased by two fold in 2011! This is said to be due to "Limited supply coupled with intensifying global interest in the United Kingdoms educational excellence”. Which in conjunction “points towards further strong rental growth in the sector".
So, what does this mean for the price of letting Student Accommodation Birmingham?
The University of Birmingham guage the cost of living for a single student over a forty-two 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 declines to £245 or £10,290 over 42 weeks.
The actual price of letting in either University owned, or private student accommodation ranges from approximately £110 to £190 a week. This quantity is mostly influenced by; selecting to move to the vale, the distance from University and whether you specifically want a room with an en-suite. For private shared houses the weekly rental figure declines to in the region of £50 to £90. This value is dependent on the; distance to the ‘student area’, proximity to university and other amenities (E.g. Tesco’s), amount of tenants sharing, size and finish quality of the property, the provision of facilities (E.g. mounted TV’s), and whether bills are included (E.g Broadband).
The RBS Student Finance survey placed Birmingham as the seventh most cost-effective student city, out of 27 cites in the UK. The survey took into account; the cost of renting student accommodation in Birmingham, food, shopping and more.
Whatever your situation, if you are prepared to compensate on one or more variables above – it will hugely reduce the annual cost. E.g, living close to University in a recently refurbished flat with a medium to large number of rooms will be markedly more than an equivalent house an additional 2 mile walk. Considering the tuition cost increase beginning in the next academic year (2012-2013), its plausible to estimate that the standard rental ranges displayed above are not likely to fluctuate too much when relating the fee increase to the demand for higher education in the UK and Student Accommodation in Birmingham.
This prediction is based on the fact that Knight Frank suspects “The winners from the new tuition fees regime will be the most renowned institutions amid a flight to quality as students search for the very best course available for their money. The losers will be the least prestigious institutions offering commercially uneconomical degrees” (2012).
The actual price of letting in either University owned, or private student accommodation ranges from approximately £110 to £190 a week. This quantity is mostly influenced by; selecting to move to the vale, the distance from University and whether you specifically want a room with an en-suite. For private shared houses the weekly rental figure declines to in the region of £50 to £90. This value is dependent on the; distance to the ‘student area’, proximity to university and other amenities (E.g. Tesco’s), amount of tenants sharing, size and finish quality of the property, the provision of facilities (E.g. mounted TV’s), and whether bills are included (E.g Broadband).
The RBS Student Finance survey placed Birmingham as the seventh most cost-effective student city, out of 27 cites in the UK. The survey took into account; the cost of renting student accommodation in Birmingham, food, shopping and more.
Whatever your situation, if you are prepared to compensate on one or more variables above – it will hugely reduce the annual cost. E.g, living close to University in a recently refurbished flat with a medium to large number of rooms will be markedly more than an equivalent house an additional 2 mile walk. Considering the tuition cost increase beginning in the next academic year (2012-2013), its plausible to estimate that the standard rental ranges displayed above are not likely to fluctuate too much when relating the fee increase to the demand for higher education in the UK and Student Accommodation in Birmingham.
This prediction is based on the fact that Knight Frank suspects “The winners from the new tuition fees regime will be the most renowned institutions amid a flight to quality as students search for the very best course available for their money. The losers will be the least prestigious institutions offering commercially uneconomical degrees” (2012).