0:01 AM, 28th April 2023, About 7 months ago
Average monthly room rents in London now cost a staggering £952, according to a flatshare website.
Spareroom reveals that nearly a quarter (23%) of UK renters have been priced out of the area they were living in in the last six months.
Nearly half (48%) of these have had to move in with flatmates in order to find somewhere more affordable.
The platform has now compiled a list of the most and least affordable places to rent in the UK.
Matt Hutchinson, a director at SpareRoom said: “Whilst demand for rooms is still lower than the record highs we saw at the end of 2022, rising interest rates and a cost-of-living crisis are continuing to drive rents up to record levels.
“With the average room rent in the UK at an unprecedented £683, renters are being forced to cheaper areas and into house-shares.
“Unless something is done to stop the continuing decline in rental supply, things aren’t likely to improve much for renters. Government must do much more to help, or the housing crisis will become a housing disaster.”
For the first time ever, there’s not a single London postcode with an average monthly room for rent at less than £700.
Outside of the capital, the most expensive places to rent are Southall (£810), Barnet (£809) and Twickenham (£801).
The cheapest places to rent are Burnley (£431) followed by Stoke-on-Trent and Bradford (£439).
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