Student Accommodation Birmingham & All Over The Country – How Does It Compare?
Many speculate that the cost of Student Accommodation in Birmingham is anticipated to become a rise and fall in the coming years. However despite the anticipated fee increases, the requirement for student accommodation in the UK was interpreted as ‘booming’ in 2011! The sector was grouped as the ‘best performing property investment sector’ in a broadcast produced by the multi-national letting agency Knight Frank (Published 5/2011). They also state that the “total returns in 2010 for student accommodation in the regions did much better than all other property sector”. And in addition to this, James Pullan (Knight Frank’s head of student property) stated “The student accommodation sector is now recognised as forming a crucial part of a balanced investment portfolio”.
In the Knight Frank Student Property document 2011; London, Brighton, Edinburgh and Oxford are ranked in the best 5 places to invest in property in the UK. Student Accommodation in Birmingham is ranked at place 19. In a more current document Knight Frank publicised London student property proceeds doubled in 2011! This is predicted to be due to "Limited supply in addition to strengthened global appeal in the UK’s educational excellence”. Which together “points towards further strong rental growth in the sector".
So, how does this influence the cost of letting Student Accommodation Birmingham?
The University of Birmingham evaluate the cost of living for a single student over a forty-two week academic session is £283 per week or £11,866 for the whole period. For students who rent a room in a private shared address, this drops to £245 or £10,290 over forty-two weeks.
In the Knight Frank Student Property document 2011; London, Brighton, Edinburgh and Oxford are ranked in the best 5 places to invest in property in the UK. Student Accommodation in Birmingham is ranked at place 19. In a more current document Knight Frank publicised London student property proceeds doubled in 2011! This is predicted to be due to "Limited supply in addition to strengthened global appeal in the UK’s educational excellence”. Which together “points towards further strong rental growth in the sector".
So, how does this influence the cost of letting Student Accommodation Birmingham?
The University of Birmingham evaluate the cost of living for a single student over a forty-two week academic session is £283 per week or £11,866 for the whole period. For students who rent a room in a private shared address, this drops to £245 or £10,290 over forty-two weeks.
The actual price of letting in either University owned, or private halls of residence extends from around £110 to £190 a week. This number is mostly influenced by; opting to move to the vale, the distance from University and whether you place a requirement for an en-suite.
For private shared properties the weekly rental figure drops to approximately £50 to £90. This value is based 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 Electric).
The RBS Student Finance survey listed Birmingham as the seventh most cost-effective student city, out of 27 cites in the UK. The survey included parameters such as; the price of letting student accommodation in Birmingham, going out, shopping and more.
Whatever your circumstances, if you are prepared to sacrifice one or more variables above – it will vastly decrease the annual price. E.g, living close to University in a recently done up house with a medium to large number of rooms will be noticeably more than a similar property an additional one miles away from Uni.
Considering the course price rise commencing in the next academic year (2012-2013), its plausible to estimate that the standard rental ranges shown above are not likely to move too much when contrasting the quality of the courses offered at the Uni, and the demand for further education in the UK and Student Accommodation in Birmingham.
This statement is based on the fact that Knight Frank speculates “The winners from the new tuition fees structure will be the most prestigious 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 unattractive degrees” (2012).
