Lettings Flooded With Demand From Shared Rentals

The website business easyroommate has reported that for every available room there are four potential tenants, proving that demand is exceeding demand considerably. Registrations on the site seeking a room have increased 58% in the last year.

The director of easyroommate, Jonathan Moore, is quoted as saying: “Rental demand has really moved up a gear.

“In rental hotspots like central London, rooms and flats are being let within hours of being advertised. As the cost of renting a whole flat soars, a growing number of frustrated buyers are turning to flatshares as a cheaper alternative while they save for a deposit.”

UK room rents are now typically valued at £360 pcm, with those who decide to rent property with others saving up to half of what they would have had to spend on their own place.

The sites breakdown of their stats showed that out of over fifty towns and cities, the area that was most popular, and thus had the highest demand, for rental rooms was the South-East, with over 13 people applying for each available room in Brighton. Additionally, Oxford and London predictably have some of the biggest competition per room, with up to 7.2 tenants applying for each room. 
 
As a result of this increase in demand, rental costs have increased also; in Brighton room have increased 16% over the national average, whilst in London rent has increased by a staggering 44%.

On the other hand, some places have more supply than demand, such a West Bromwich. Or in the case of Salford, one person applying for each available room.

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