Awaiting Image

Accommodation fees paid by parents of one-third of students

A number of students have their accommodation fees paid for by their parents, according to a recent survey by Rightmove.

The online property search specialists released findings yesterday (June 17th) about student properties and renting.

It showed that 32% of students who took part in the survey said their parents pay for their rental charges.

This is a higher percentage than the number of parents who pay for their children’s university fees, with 20% of students saying their tuition charges are covered by their mothers and fathers.

Parents with children in Bristol will have to pay more for their youngster’s accommodation, after Haart estate agents reported that student properties are typically £96 per week in the south-west city, which is higher than typical costs in other UK university cities.

Rightmove also revealed 65% of students think they will buy their first home in five years or less. This is despite the average age of a first-time buyer (FTB) being 30 years old.

Figures from the Council of Mortgage Lenders revealed that more young people are asking for financial assistance from their parents to get on the property ladder. It reported 67% of FTBs bought a property without any help from their mothers and fathers in 2006; however, just 36% did in 2012.

Subscribe to our newsletter

Please enter your name and email address

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Select Property Group in relation to its property investment brands.

There was an error with your subscription. Please try again.
Thank you for subscribing. You will now be fully informed of all investment property news and insights.