Student accommodation costs £75 a week

New research from the Halifax finds students can expect to pay £75 for their university accommodation this coming academic year, according to new research.

According to a study carried out by the Halifax, the cost of digs is the biggest cost facing students this year, with total costs totalling over £200.

The research shows the average weekly accommodation bill in the south-west was in excess of £90, closely followed by the south-east at almost £87.

By comparison, students in West Midlands paid a more affordable £53.40.

"Our research shows for most students weekly living expenses can be upwards of £200 or more," said Mike Regnier, head of banking at Halifax.

"It's important for students to not only set a budget and stick to it but to also minimise the cost of any borrowing.

"This may include keeping the cost of their overdraft to a minimum by selecting a bank account with a 0% overdraft offer."

In second place in the cost league, food will cost each student an average of £38.60 a week, including £6.40 on cheeky late night takeaways.

However, somewhat optimistically, Halifax expects students to spend just £20.40 on alcohol each week.

Transport is expected to cost an average of £14.20, while utility bills will cost £12.50.

Cigarettes also account for £1.70 of the average students outgoings each week.

Recent research also suggests Nottingham and Durham are the best investment locations for buy-to-let investors.

Chris O'Toole