Far from slumming it, many students are prepared to pay hundreds of pounds more for apartments that have been upgraded, according to letting agents.

Jonathan Pincott, of Chancellors’ Headington branch, in Oxford, said: “It’s gone crazy this past few weeks. Everything that’s coming on to our books is going within hours.

“Two-bedroom apartments in the Headington area are always popular with medical staff, academics and professionals but the big growth is coming from overseas students.

“An apartment we let a few weeks ago went to overseas students who paid one year’s rent upfront, which made the landlord very happy.

“Two-bedroom apartments would normally command around £800-850, but that will go up considerably if the landlord is offering better quality fittings and furnishings. For something of that level we can get £1,000-£1,200.

“There are many overseas students who want a property furnished to a high standard and ready to move into. In those cases, money is not a problem.”

Mr Pincott said his agency had just let a penthouse apartment at Holyoake Hall, in Holyoake Road, for £1,600 pcm.

“It is a stylish duplex penthouse apartment with large loft lounge and spectacular panoramic views over Headington and Oxford. It has been let for two years to overseas students studying business at Oxford Brookes. This is a typical type of tenant for high-end properties in Headington.”

Another apartment handled recently by Chancellors is Upper Meadow, a development on the edge of Shotover Hill which commands £1,200 pcm.

Mr Pincott added: “This property went to UK students who are paying up front.

“They were looking for the sort of high-end accommodation that they are used to, rather than the more typical student accommodation. Previously it was let to doctors working at local hospitals.”

For more information about letting through Chancellors at Headington, contact them on 01865 763464 or visit chancellors.co.uk