Purpose-built student accommodation (PBSA) is the darling of our property market here in the UK: its sheer profitability, combined with an ever-growing demand, makes it a rich prospect for developers and privately-owned accommodation providers. But as demand rises, so does the cost – resulting in an increasing number of students who struggle to make ends meet.

The numbers speak for themselves. According to a spokesperson from the National Union of Students (NUS), the average rent for a student is the equivalent of 85% of their maximum loan and grant. This is for a student from a particularly poor background, too!

This article gives you the full lowdown: a stats-led report on the current cost of student accommodation, and a rundown of the most expensive rents in the UK.

STAT: The average rent for students has risen by 23% in just six years
That’s according to the Accommodation Costs Survey carried out by NUS and Unipol. Looking at the academic years between 2009/10 and 2015/16, the survey shows a 23% increase in the average weekly rent.

This is for purpose-built student accommodation, which in the last decade or so has really come into its own in terms of providing accommodation with all the added extras. That includes everything from on-site gyms to games consoles provided free of charge. We’re talking real luxury and complete convenience – but all at an increasingly high price.

87% of all beds for 2017/18 were delivered by the private sector
The private student accommodation sector plays a huge role in student housing, providing a massive 87% of all bed spaces for the academic year 2017/18 (according to the Cushman & Wakefield Student Accommodation Annual Report).

As mentioned earlier, the ongoing demand coupled with rising rents puts the UK’s student population in a difficult bind. And as long as the demand continues, the private sector will continue to price students out.

Is the PBSA sector taking advantage?
Some providers have even been accused of capitalising on the demand. The Office for National Statistics (ONS) predicts that student spending will be in excess of £37 billion by 2020.

What other choice do students have? Without an affordable alternative, it’s almost inevitable that they will put themselves into situations they can’t really afford.

Most expensive rents in the UK
It seems that you really can put a price on your university experience. To help students filter out the most expensive locations, we consulted a recent study by rental-market matchmakers Spareroom.

Here are the 10 most expensive regions for students to rent a room in the UK:

1. South Kensington (London, SW7) – Avg. monthly room rent £1,131
2. Central London (WC2) – Avg. monthly room rent £1,034
3. Central London (EC1) – Avg. monthly room rent £920
4. Central London (WC1) – Avg. monthly room rent £870
5. Guildford – Avg. monthly room rent £574
6. Oxford – Avg. monthly room rent £557
7. Cambridge – Avg. monthly room rent £541
8. Brighton – Avg. monthly room rent £511
9. Edinburgh – Avg. monthly room rent £469
10. Bath – Avg. monthly room rent £448

What is it that students want from their accommodation?
The current wave of PBSA caters for each and every whim a student could possibly have, but with a price tag that makes certain cities almost impossible to move to. Student-housing providers should instead look at what their market considers to be essential, and then provide it.

We did a little digging, and here’s what we found:

• Inclusive bills
• Fast Wi-Fi
• Security
• Double bed
• TV
• Good location
• Social spaces
• Sizeable kitchen
• Working appliances
• Maintenance team on hand 

To summarise
It’s clear that students in the UK need an affordable alternative, and one that suits their needs entirely. Students have to look around for the most agreeable providers and, especially when it comes to viewings, they shouldn’t be hesitant to ask as many questions as they need to.

Author bio: Callum Dawson is a writer for Mears Student Life, a student accommodation provider with affordable, high-quality residences in three locations across the UK.