A new study has found over one third of students are considering dropping out of university because they are struggling with the cost of rent – while 7% of said they had experienced homelessness.
The National Student Accommodation Survey showed how students who attend universities based in London, such as Kingston, are more acutely impacted. The average price of student housing in the capital is now £812, a staggering 45% higher than the national average of £563.
Walid Hssini, a third-year student at St Mary’s said: “When I first started university, I had to move away from home for the first time as my family live too far. I had to find my own place quickly and the only option available was private housing, which is very expensive. My student finance doesn’t even cover all the costs.”
This rise in renting costs is also affecting students who rely on maintenance loans and parental support. While maintenance loans help some students with their renting costs, many are left with student loans that do not cover their monthly rent, and parents are contributing an average of £224 per month to help with covering the increasing costs. The survey also found that 59% of students struggling to pay rent at least some of the time.
Due to the difficulty with finding affordable housing, many students have been forced to commute or live at home, with the average commute reaching 26 minutes. Some students report travelling over an hour each way.
The financial strain is now starting to take its toll, with students reporting housing stresses are impacting their academic performance and their mental health. Hssini added that “it has been really hard to keep up with my renting costs as well as all my other expenses, and working full-time is my only option now.”
The shortage of purpose-built student accommodation (PBSA) has shown its effects on students. Developers have slowed construction due to planning constraints and rising costs, leaving fewer options for students returning to university to complete their degree. While first-year students are typically guaranteed housing in university-managed halls, second- and third year students are left to compete in the private rental market. With many still haven’t found somewhere since the start of the academic year.
The upcoming Renters’ Rights Bill aims to address some of these concerns by ending bidding wars and offering more flexible lease terms. As demand continues to rise, urgent action is needed to expand affordable housing and protect the future of London’s student population. The Labour Party did not respond to The River when approached for comment.