Soaring rental costs across Britain could force students to turn down their top university choice this year or switch to a course closer to home, the head of the universities sector has warned.
Steve West, the president of Universities UK (UUK), told i that prospective students will face “very tough” competition for accommodation this year, especially those set to study in major cities where the housing market is already squeezed.
Demand for student accommodation has eclipsed supply in recent years. The current stock of purpose-built housing is forecast to accommodate just 48 per cent of university students over the next academic year, according to a PwC report published on Monday.
At the same time, private rental costs have catapulted over the last 12 months as landlords continue to raise rents in the face of increased interest rates rolled out by the Bank of England to tackle soaring inflation.
Data published earlier this month by home-sharing website SpareRoom showed that the average cost for a single rental room in the UK rose to £700 for the first time in the three months to July – a 17 per cent jump compared to the same period last year.
Mr West told i: “The availability of accommodation is in some places very tough – not just for students, but rental accommodation generally.
