Well, I am from Sheffield university, but I've got an impression that Park Student Village is simply a perfect place for Hallam students. Some three Hallam'ers live with me, and they're very happy with the acommodation and location. The university is just down the hill, practically 5 min walk, the rent is rather low (67-75ppw for the next year), all facilities are new, there's a large park nearby, etc.
Universities often advertise their own acommodation excessively, misleading the students (especially Sheffield uni students - the en-suite prices begin with 100ppw! And the rooms are smaller than in Park Student Village, which also has way lower prices). It's always good to look for some non-university alternatives, especially in Sheffield, where supply of student acommodation is ample. There are much better offers out there (I've seen prices as low as 38ppw).
All in all, do not spare some effort to look beyond the widely popular choices, as there might be some better offers financially and even socially. Just need to do some investigation on the net.