Student flatshare may save you money

Choosing to flat share instead of living in halls can cut costs by up to 15%.

Of the UK's 2.4m students, 22% live in university halls, the vast majority being first-year or international students.

But a first-year student could save £732 annually if they rented a room in a private flat-share, claims the research.

Second and third-year students living in university-owned houses could save £23 a week by seeking a private flat-share instead.

The research compared the average monthly rent for self-catering on-campus halls accommodation for the UK's universities with the cost of private flat-sharing.

On average, university accommodation costs came to £409 a month – this was £61 more per month than a flat-share (£348).

With thousands of students getting ready to start in September, many are considering whether living in halls or a private flat/house share is the best option.

There are advantages to both, but living in a private flat-share is more cost-effective. British students are already fighting a tough uphill battle financially - they'll already be saddled with thousands of pounds worth of debt after Uni.

By shopping for cheaper private accommodation, students can shave off the best part of a thousand pounds in rent each year. What's more, like those living in halls, if students flat-share with other students, they won't need to pay council tax.

And unlike most uni residences, they won't get turned out at the end