New students at London universities who want the luxury of sleeping in might be shocked to find they’ll need to fork out nearly £3,000 a month for the privilege.
Research by Spotahome found that living near lectures – when they eventually resume – comes at a high price with the cost of renting within close proximity of a campus working out at £1,976 a month – 25% more than the overall average London rent of £1,583.
At the top end of the London uni rental ladder, the average monthly rent in the SW7 postcode – home to the main campuses of the Imperial College London, the Royal College of Arts and the Royal College of Music – hits a whopping £2,887 per month.
As students look to sign contracts for their new digs, Spotahome analysed average rental data for each university campus postcode in London and found that when looking at cost by each main campus alone, the average monthly rent increases to £2,060 per month, and falls to £1,905 when renting around an additional campus.
However, the most affordable London campuses aren’t in London at all. International students in particular might not realise that the additional campuses of the University of Greenwich (£817) and the University of West London (£952) are the only colleges costing less than £1,000 per month, because they are based in Reading and Kent.
UK and Ireland country manager, Nadia Butt, says that for those studying in the capital, securing an affordable place close to their university can be a tough ask, even when sharing with friends.
“However, with any big move, it’s all about research,” she says.
“It might sound obvious but knowing which campus you will be at is the place to start. We often find students aren’t too disheartened by the higher cost of living near campus. In fact, they tend to prioritise more affordable areas with a good social scene and good transport.”