Durham is the third most expensive city for grads to live in, according to new research
£2.60 pints make no difference??
Durham is the third most expensive place to live per month, right behind Oxford and London, according to a study conducted by Propillo.
The Free Mortgage Advice group’s research revealed that monthly savings for graduates choosing to live in Durham was £-624.07 on average, one year after graduation.
Oxford University ranked second most expensive with £-954.90, with London putting graduates most out of pocket at £-1,262.40 a month.
Monthly savings refers to funds remaining after costs of living and rent have already been paid. The average salary is based on complete graduate earnings one year after leaving university at £18,000 per annum.
Despite rent prices being only £15 cheaper than the average price per month to rent a property in Durham, Stoke-On-Trent came out as the most cost-effective area at £242.27 monthly savings for graduates.
One graduate living in Durham disagreed with the outcome of the study, telling The Tab that “the cost of living in the centre of Durham, whilst high for the North East, is still far cheaper than other grad-heavy areas like London and Manchester".
However, one Durham student saw sense in the findings: “the landowners in Durham take advantage of the fact that students may tend to be from wealthier areas so they raise the prices on rent. If you’re a graduate, you’re sometimes forced to rent under that climate, so that might be why costs are higher in Durham.”