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Cost of flatshare rises as supply tightens

The cost of flatsharing in the UK will rise this year as supply becomes shorter – partly driven by retirees looking for short-term accommodation.

Website easyroommate is predicting an average monthly rent in a flatshare to reach £450 by the end of this year, up from £430. However, costs vary enormously, from £312 a month in Wales to £625 in London.

Impact of Retirees on the UK Flatsharing Market

The website says that over the last year, the number of bedrooms available for flatsharers to rent has fallen by over two-fifths (44%). Over the same period, demand has remained steady and this has put even more strain on an already stretched supply of rooms.

Since January 2012, the site has a rising number of retirees looking for short-term flatshare accommodation. Over the last 18 months the number of retired renters has increased by over a third (34%). With most looking for short-term accommodation, the trend suggests more pensioners are using flatsharing as a stop-gap in the downsizing process.
Article courtesy of Landlord Today“”