Rents for university-owned student accommodation have risen an average 4.3% as institutions look to hike up property values.
Students in London experienced one of the biggest hikes as rents jumped from £155 per week in September 2010 to £164.30 per week last month. Rents in Wales climbed 7.2%, to £92.70 per week.
The data, compiled by Knight Frank’s analysis of 100,000 student beds, listed East Midlands as the region that experienced lowest rental growth, rising just 0.7% to £129.50.
Knight Frank said universities will be refurbishing and releasing properties to raise revenues ahead of the introduction of higher tuition fees in 2012.
James Pullan, head of student property at Knight Frank, said: “Universities are looking to raise rents from accommodation in an effort to increase the value of the property before selling it on.”
joanna.bourke@estatesgazette.com
