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Room Rental Demand Continues to Rise But is Supply Set to Follow?

Student room available…doctors and lawyers accepted. Peter Hemple reports

House sharing is becoming an increasingly popular way for people to move wherever their next job is without having to lay down any permanent foundations. Also, with affordability levels continually stretched the popularity of renting a room in a flat or house looks set to rise indefinitely, certainly in the capital.

According to EasyRoommate, the ratio of available properties in London compared with the number of people on the hunt for somewhere to live is now a staggering 9 to 1. The demand for rental property has gone through the roof as most young professionals are simply unable to afford to rent a flat on their own, never mind to buy one.

The room finding website states: 'Ten years ago, our audience was almost exclusively students looking to flat share. Now, students are a minority audience. Instead, 64% of our flat sharers are young-professionals at an average age of 27.5. People in their 30s and 40s are also now starting to become interested in buddying up to find a flat.'

Moving in with complete strangers is obviously not most people's first choice but it is not just the high cost of buying that is causing a surge in room rentals. With many landlords now wanting a 12 month tenancy agreement, the rise of temporary work contracts has been the main catalyst for growth in this sector.

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