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News: UK live-in landlords increase by 19pc in six months

Tue, 13 Mar 12

The number of live-in landlords across the UK has increased by 19% in the last six months, according to the latest report from Easyroommate.

Figures increased by 5% between January and February this year, the global flatsharing website reveals, and now live-in landlords account for 34% of the site’s total number of users searching for flatmates.

Jonathan Moore, director of Easyroommate.co.uk, comments: 'With the vast number UK homeowners looking to boost their incomes during the recession, a growing number are waking up to the income trapped in their spare rooms. This is also compounded by the vast majority of people reluctant to downsize due to the loss of equity in their homes.'

Average flat share rental asking prices  across the UK have also remained consistently at £368 for the last three months following a marked increase in UK rents towards the end of 2011, the average rental figures evened out in December and have remained at £368 since.

Despite this rents in London increased steadily since September 2011 and have currently surpass the average UK rental asking price to stand at £542 per month. There was also a marked increase in Southampton and  Cardiff, with both cities witnessing an increase of 3% since January resulting in average rental figures of £359 and £310 respectively.

Jonathan Moore continues: 'Following the peak season, when the majority of students have returned to University, rental asking prices tend to even out. Overall we registered an increase in average rental prices in the three months prior to February this can be attributed to the overall  limited number of rental homes available. With the average first-time buyer continuing to struggle to join the property market, demand is continuing to increase pushing rental prices up. Flat sharing does still continue to be the most cost effective way to reduce living costs which is primarily what is causing the market to continue to rise in popularity.

 Sheffield was the only city to see a decline in rental asking prices since January, with figures falling from £303 to £300 per month. University towns Cardiff and Brighton also saw an overall fall in the average monthly rents since September 2011, with Cardiff seeing a decline of 17% . This can be attributed to the end of the peak autumn season when students secure rental accommodation.

Overall prices remained steady in the three months prior to February 2012. This increased stability  can be attributed to the fact that market conditions have remained consistent with demand and supply figures remaining unchanged as a whole.


See also: UK Rental Asking Prices

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