I'm struggling for choices of hostel accommodation in Geneva first weekend of December. between hostel world, hostel bookers, YHA and Hi hostels there are only four options under (only just under) £30 per person per night. Is that just the going rate for Geneva - surely there must be more than four options.
30 Pounds are just 38 Swiss Franks. This isn't really a lot of money in Switzerland, so I don't think you will find anything that is really a lot of cheaper. Additionally, Geneva is one of the most expensive cities in Switzerland if not in the whole World.
To make it worse, Geneva is the domicile of a lot of big organizations like for example UNO, CERN, IKRK, WHO, IAO, ISO, ITU, WIPO, WMO, WOSM, WTO or UNHCR. That's why the living costs as well as the accommodation costs are exploding.
So in my opinion you should be happy with your 4 affordable hostels.
When I was traveling in Switzerland and wanted to see Geneva, I would actually stay at a small hotel in Lausanne, some 45 minutes away, but along the main railroad line. At a much lower rate than Geneva itself.
Geneva is a "destination," city, hence expensive. Anything "outside" of it would be far cheaper. But Switzerland is a small country, so "outside" of Geneva is a "commute" by say, American standards.