Student Accommodation Birmingham & Everywhere Else – What’s The Difference?
Some people may think that the price of Student Accommodation in Birmingham is likely to become a vary in the coming months. However despite the future course fee rises, the need for student accommodation in the UK was interpreted as ‘booming’ in 2011! The market was labelled as the ‘best performing property investment sector’ in a broadcast issued by the multi-national letting agency Knight Frank (Published May 2011). They also write that the “total returns in 2010 for student accommodation in the regions outperformed every other property sector”. And there is more, James Pullan (Knight Frank’s representative of student property) stated “The student accommodation sector is now recognised as forming a crucial component of a balanced investment portfolio”.
In the Knight Frank Student Property report 2011; London, Brighton, Edinburgh and Oxford are ranked in the best five locations to invest in property in the UK. Student Accommodation in Birmingham is ranked at place 19. In a more up-to-date report Knight Frank recorded that London student property yeilds doubled in 2011! This is thought to be due to "Limited supply coupled with rising global interest in the UK’s educational excellence”. Which together “points towards further strong rental growth in the sector".
In the Knight Frank Student Property report 2011; London, Brighton, Edinburgh and Oxford are ranked in the best five locations to invest in property in the UK. Student Accommodation in Birmingham is ranked at place 19. In a more up-to-date report Knight Frank recorded that London student property yeilds doubled in 2011! This is thought to be due to "Limited supply coupled with rising global interest in the UK’s educational excellence”. Which together “points towards further strong rental growth in the sector".
So, what are the effects on the cost of renting Student Accommodation Birmingham?
The University of Birmingham evaluate the price of living for a single student over a 42-week academic session is £283 per week or £11,866 in total. For students who rent a room in a private shared flat, this drops to £245 or £10,290 over the same period.
The actual price of renting in either University owned, or private halls of residence extends from approximately £110 to £190 per week. This number 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 price is reduced to in the region of £50 to £90. This value is based on the; proximity to the ‘student area’, proximity to university and other amenities (E.g. Tesco’s), amount of tenants sharing, size and finish quality of the accommodation, the provision of facilities (E.g. double beds), and whether bills are included (E.g Water).
The RBS Student Finance survey listed Birmingham as the seventh most cost-effective student city, out of twenty seven cites in the UK. The survey included points such as; the cost of renting student accommodation in Birmingham, daytime and evening entertainment, {restaurant prices, shopping and more.
Whatever your circumstances, if you are prepared to sacrifice one or more variables above – it will dramatically reduce the annual price. E.g, living close to University in a recently done up flat with a lot of decent sized rooms will be markedly more than a identical property an additional 2 miles away from Uni.
Considering the course fee rise commencing in the coming academic year (2012-2013), its plausible to speculate that the approximate rental ranges shown above are unlikely 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 believes “The winners from the new tuition fees regime will be the most prestigious universities amid a flight to quality as students hunt for the very best course available for their fees. The losers will be the least prestigious universities offering commercially unattractive degrees” (2012).
The actual price of renting in either University owned, or private halls of residence extends from approximately £110 to £190 per week. This number 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 price is reduced to in the region of £50 to £90. This value is based on the; proximity to the ‘student area’, proximity to university and other amenities (E.g. Tesco’s), amount of tenants sharing, size and finish quality of the accommodation, the provision of facilities (E.g. double beds), and whether bills are included (E.g Water).
The RBS Student Finance survey listed Birmingham as the seventh most cost-effective student city, out of twenty seven cites in the UK. The survey included points such as; the cost of renting student accommodation in Birmingham, daytime and evening entertainment, {restaurant prices, shopping and more.
Whatever your circumstances, if you are prepared to sacrifice one or more variables above – it will dramatically reduce the annual price. E.g, living close to University in a recently done up flat with a lot of decent sized rooms will be markedly more than a identical property an additional 2 miles away from Uni.
Considering the course fee rise commencing in the coming academic year (2012-2013), its plausible to speculate that the approximate rental ranges shown above are unlikely 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 believes “The winners from the new tuition fees regime will be the most prestigious universities amid a flight to quality as students hunt for the very best course available for their fees. The losers will be the least prestigious universities offering commercially unattractive degrees” (2012).