The private school rental markets where school fees could cover a year’s rent or more
If there’s one thing as eye-wateringly expensive as the UK rental sector, it’s the cost of private education and innovative letting platform, Bunk, has looked at how far the annual school fees for the nation’s ‘best value’ private schools will get you in their respective rental markets.
Bunk looked at the annual cost of attending what is considered the nation’s more affordable private schools, before looking at the cost of renting in each town and how long the fee could get you by in paid rent.
On average, the rent surrounding these schools is 9% higher than the towns they are located in but the annual fees to attend these schools are an average of 38% more a year than the cost of renting in the surrounding town.
Bradford Grammar School tops the table and while the annual fees of £13,140 aren’t the highest in the list, they are 107% more than the cost of renting in Bradford for a year (£6,360), enough to cover your rent for 24.8 months!
Nottingham High School ranks second, with the annual fees some 99% higher than the annual rent, covering 23.9 months of rent in Nottingham.
The annual cost of attending the King Edward VI High School for Girls (£13,338) in Birmingham is 55% higher than the annual cost of rent in the city and could put a roof over your head for 18.7 months in the local rental market.
Reading Blue Coast School for Girls (17.3), the Manchester Grammar School (15.4), the Glasgow Academy (14.4), the Maynard School in Exeter (14.1), the St Helen and St Katharine School in Abingdon (12.4) and George Watson’s College in Edinburgh (12.3) all charge an annual fee between 3% and 45% higher than the annual cost of renting and could see you rent for a year or more in the local area.
St Benedict’s School in Ealing ranks last, and with fees of £17,655 a year it’s actually the most expensive of the lot while the annual rent cost of £17,808 to rent in Ealing is the least affordable spot for tenants.
However, it means the school comes in -1% cheaper than the annual rental cost although you could still rent in Ealing for 11.9 months for the cost of a year’s education!
Co-founder of Bunk, Tom Woolard, commented:
“There’s nothing like trivialising the high cost of renting to make yourself feel better about life, but it seems you have to go to some drastic lengths of in order to do so.
For many, the cost of renting alone is a financial struggle and so the idea of spending a year or more of rent on anything else is probably incomprehensible although those attending these ‘great value’ schools are unlikely to see the dark side of the rental sector, let alone struggle in it.”
|
School
|
Outcode
|
Location
|
Annual School Fees
|
Annual Rent in Town
|
Annual Fee to Rent Difference
|
Monthly Rent in Town
|
School Fee in Rental Months
|
|
Bradford Grammar School
|
BD9
|
Bradford
|
£13,140
|
£6,360
|
107%
|
£530
|
24.8
|
|
Nottingham High School
|
NG7
|
Nottingham
|
£15,444
|
£7,764
|
99%
|
£647
|
23.9
|
|
King Edward VI High School for Girls
|
B15
|
Birmingham
|
£13,338
|
£8,580
|
55%
|
£715
|
18.7
|
|
Reading Blue Coat School
|
RG4
|
Reading
|
£17,514
|
£12,120
|
45%
|
£1,010
|
17.3
|
|
The Manchester Grammar School
|
M13
|
Manchester
|
£12,930
|
£10,068
|
28%
|
£839
|
15.4
|
|
The Glasgow Academy
|
G12
|
Glasgow
|
£12,192
|
£10,140
|
20%
|
£845
|
14.4
|
|
The Maynard School
|
EX1
|
Exeter
|
£13,752
|
£11,712
|
17%
|
£976
|
14.1
|
|
St Helen and St Katharine School
|
OX14
|
Abingdon
|
£16,995
|
£16,392
|
4%
|
£1,366
|
12.4
|
|
George Watson’s College
|
EH10
|
Edinburgh
|
£13,170
|
£12,816
|
3%
|
£1,068
|
12.3
|
|
St Benedict’s School
|
W5
|
Ealing, London
|
£17,655
|
£17,808
|
-1%
|
£1,484
|
11.9
|
You May Also Enjoy
England’s south coast sees highest rent increase in UK
Why the human relationship still defines real estate lending
Britain’s most desirable military towns where homes command premiums as high as 51%
Labour tax tirade hits UK with largest millionaire exodus of all global nations
One in eight business chiefs set to leave UK over tax burden