I'm basing my ranking on The Guardian's University league table 2011:

Let's take a closer look at the current Top 5.
1) Oxford: Everyone knows it's a neverending battle between the prestigious Oxford and Cambridge for acknowledgement as the UK's No. 1 University, and it looks like this year Oxford has just taken the lead.
| Sex ratio (M:F): 53:47 | Full-time undergraduates: 11,332 |
| Applications per place: 5 | Points range: 340-360 |
| Flunk rate: 2.6% | Unemployed after 6mths: 7.4% |
| Booze Index: £2.45 |
Av. housing cost per week: £101.58 |
| Av. debt per year: £5,202 | Access fund: £427,967 |
| Cost of living: V.expensive |
Pros: 
- Beautiful city
- 39 colleges and seven private halls, all with their own quirks and characteristics.
- In recent years, Oxford have been trouncing Cambridge at the top end of the student sports league
- Almost everyone can live in College for at least two years, which is far cheaper than renting in town
- Each College has its own JCR – a mini-union that co-ordinates ents and plenty of societies
Cons:
- The clubbing scene is practically non-existant.
- ^ Not much time for going out anyway...
- City housing is expensive
2) Cambridge
| Sex Ratio (M:F) 51:49 |
Full-time undergraduates: 11,826 |
| Applications per place: 4 | Points range: 340-360 |
| Flunk rate: 1.3% | Unemployed after 6mths: 4.8% |
| Booze Index: £1.80 | Av. housing cost per week: £90 |
| Av. debt per year: £5,716 |
Access fund: £310,000 |
| Cost of living: V. expensive |
Pros:
- Beautiful city
- Contains some of the best academic resources around – the Uni Library is one of six copyright libraries in the country
- You get an MA with every honours degree!
- Like Oxford, each College’s JCR (mini-union) looks after its own students' welfare and entertainment
- 8 week terms!
Cons:
- Its student union is one of the poorest and has the lowest profile.
- Intense academic lifestyle
3) Warwick
|
Sex Ratio (M:F): 50:50 |
Full-time undergraduates: 11,203 |
|
Applications per place: 9 |
Points range: 300-420 |
| Flunk rate: 3.6% | Unemployed after 6mths: 10.8% |
| Booze Index: £1.84 | Av. housing cost per week: £73.81 |
| Av. debt per year: £6,451 | Access fund: £355,850 |
| Cost of living: Reasonable |
Pros: 
- With more clubs than any other university and a jam-packed social calendar, students aren’t short of something to fill their spare time with
- The University has the largest Art Centre outside London
- Brand new student union has just been built, including a new pub, bars and clubs
- Great Sports facilities
- With housing for all, first years have no need to leave campus
- The campus environment, or 'bubble' as it is often referred to, creates a feeling of a close-knit community
- Second and third years get to live in the beautiful Royal Leamington Spa
Cons:
- Leamington Spa is a good 30 minute bus ride away from campus, and the town of Coventry (which is much closer) is otherwise known as Chaventry...
- 'The Bubble' can get a little claustrophobic and is not to everyone's taste
4) St Andrews
| Sex Ratio (M:F) 60:40 |
Full-time undergraduates: 5,757 |
| Applications per place: 10 | Average UCAS entry points: 310 |
| Flunk rate: 4.8% | Unemployed after 6mths: 7.9% |
| Booze Index: £1.84 | Av. housing cost per week: £84.64 |
|
Average debt per year: 3,476 Cost of Living: Expensive |
Access Fund: |
Pros: 
- Sandy beaches, rocky coast and glorious countryside make St Andrews a particuarly scenic location
- University buildings are also reflect the area’s heritage with some architecture dating as far back as the 15th century.
- The student body are a close-knit community and on arrival undergrads acquire ‘student families’ who offer academic guidance
- All first years are guaranteed halls and self-catering kitchens come complete with dishwashers!
- Excellent sports facilities
- If you're interested in Golf, this is certainly the place for you, with 7 golf courses in the local vicinity
Cons:
- Unfortunately, golf is about all there is to do in this tiny little town... Students make up a third of its population, and there are no actual clubs.
5) UCL
| Sex Ratio (M:F): 48:52 | Full-time undergraduates: 12,192 |
| Applications per place: n/a | Points range: 240-360 |
| Flunk rate: 7.6% | Unemployed after 6mths: 7.2% |
| Booze Index: £1.75 | Av. housing cost per week: £123.58 |
| Av. debt per year: £2,971 | Access fund: £441,972 |
| Cost of living: V. expensive |
Pros: 
- There'd never be a dull moment with diverse London on your doorstep
- The SU’s has 8 lively bars and the Bloomsbury Theatre attracts big professional names as well as student productions
- Sport has a high profile
- Reputation for academic excellence accross a wide range of subjects
Cons:
- Living and accommodation costs are sky high, as expected in central London
- Acommodation is scattered around London and there is no campus or community feel
