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UK students would rather purchase than rent during university

Mon, 16 Apr 2007
A recent survey by student website Studento.com has revealed that students would rather buy a property to reside in and rent to friends rather than rent from a private landlord.

Of the 5,003 students questioned, 73% said they would rather have their own place. However, they do not have the funds available and are in sufficient debt which will mean they are unlikely to own their own home fo a number of years.

5% of the students questions did indeed own their own places. All of the students who had their own home confirmed that they had their deposits paid for by their parents. All respondants agreed that house prices for first time buyers was simply far too high.

Shina Patel, of Leeds Met University said stated "The amount of student debt that everyone has means that we can't just buy a house, so we rent which is dead money".

Most students see renting as 'dead money'. Of the remaining 22% students, 20% said that they did not want to rent, but had no other choice.

The most expensive place to rent in the UK was London - which came in at between £150 - £250 a week if a student wanted to live within 1 mile of the campus. The cheapest place was Aberystwyth in Wales, which was at £20 a week.