Students trying to get into the best of the UK’s universities have to balance the costs of their course and their living expenses to get the best value for their undergraduate studies – and that includes the cost of rents and beer.
Now a survey has revealed which are the best locations for the cheapest housing and beer in the UK for students by asking other students for their opinions.
The cheapest place to rent a student house in the UK with one of the country’s leading universities is Durham.
Durham is ranked as being the fifth best university in academic league tables but it tops the league for the elite Russell universities for having the cheapest rents with the average being paid of £62 a week.
The most expensive place for students to rent is Cambridge with rents costing an average of £97.25 a week.
The university also warns its prospective students that they should expect to pay around £7,850 for their living costs and points out that they do not approve of students working during term time to help pay for their studies.
The next most expensive city for students to rent in is Bristol where students will pay an average £96 a week which is slightly less than Cambridge but still much higher than the national average of £75.25 being shelled out by students in rent.
The cheapest city for student properties to rent is Liverpool with the average there being just £54.25 a week – which makes Cambridge an astonishing 79% more expensive
The difference in rents being charged for students could see an annual saving of £2,000 depending on which of the 24 Russell Group universities a student chooses to study.
The survey was conducted by estate agency Haart which also revealed that parents are increasingly buying a property in university towns for their child to live in while they study.
Once their child graduates, they retain the property and then rent it out to other students.
The chief executive of Haart, Paul Smith, said: “Canny parents are effectively discounting their child’s rent and creating a long-term investment at the same time.
“However, if students want to save money on their rents and have a cheap social life, the best place for them to study is Leeds.”
Students in Leeds will pay an average of £58.50 a week in rent while the price of beer – a vital statistic for most students – costs just £2.45 for a pint which is £1 less than that being paid by London students.
The cheapest price of beer for students is that found in Cardiff which costs £2.25.