UK rents have risen by 8% over the last year
Meanwhile, flatsharing among the over-40s is on the increase
Alex Johnson has been part of The Independent's online team since 2007 and writes The Home Front property column. He has been writing about microarchitecture on his internationally-acclaimed website Shedworking since 2006 and is the author of three books, Shedworking: The Alternative Workplace Revolution, Bookshelf, and Improbable Libraries.
Monday 27 January 2014
The number of new rental properties coming onto the market is up by six per cent over the last 12 months, says a new report.
Figures from Sequence, whose network includes Barnard Marcus, William H Brown and Fox & Sons, also indicates that national monthly rents rose eight per cent between December 2012 and December 2013 to £763, in spite of a drop of two per cent compared to November.
The number of new tenancies agreed also increased over the last year, by 13 per cent.
"There is a common misconception that when the sales market is booming the rental market lags behind, but our figures disprove that theory entirely," said Stephen Nation, Head of Lettings for Sequence. " Indeed, this strong growth in supply is carrying on into 2014, with the first two weeks of the year seeing a 6.5 per cent increase in new properties available to rent. Demand is continuing to keep pace with supply so I would predict the number of transactions to increase significantly as the year progresses."
Meanwhile, Spareroom.co.uk says that it has seen a rise in over-40s flatsharing, with one in eight wanted ads on its site now coming from this age group. According to Matt Hutchinson at Spareroom, that equates to 60,000 over-40s looking for rooms in the past year, up from 40,000 five years ago. The average age of people looking for a room on SpareRoom is just over 28.
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