With another batch of students heading off to university at the start of October, those who are cost-conscious should avoid a hall of residence and check into a flat with other students instead, according to new figures.

The flat sharing website Easyroommate.co.uk says the average rental in university-owned premises is £409 per month, against £348 per month for those who share a privately-rented flat with other students.

The survey says 22 per cent of the UK's 2.4 million students live in university halls of accommodation, the great majority of them being first year or international students.

On average, a first year student saves £732 by renting a room in a private flat share and if all those currently living on campus moved into private flats and houses, the savings in the student outlay would amount to £31 million per month.

Easyroommate.co.uk director Jonathan Moore said: "By shopping for cheaper private accommodation, students can shave off the best part of £1,000 in rent each year.

"What's more, like those living in hall, if students flat share with other students, they won't need to pay council tax.

"And unlike most university residences, they won't get turfed out at the end of the year."

Jonathan added: "Forty years ago, it was commonplace for students to live in halls for their entire three years. Now just one in five live in halls - a figure bumped up by increasing numbers of international students."

"In five years' time, we expect just 15 per cent of students to live in halls and flat share will play a pivotal part in covering the shortfall."