At a time when the government are trying to convince people to get on the property ladder, the average man and women in London are being forced to flat share due to the high property and rental prices.
London, UK -- (SBWIRE) -- 12/16/2014 -- With the average property purchase price in London being £514,000 and the average rental now double than the rest of the UK; more people are being forced to flat share according to Roomhunters.co.uk.
London has become the most expensive place to live and work in the UK, and this has caused major problems for people living and working in London according to RoomHunters. According to a recent report, the high living cost in London is also causing problems for businesses in the London area. With the average rental price for a one bedroom flat costing £1,200 per month, business leaders are worried workers could be forced to move to other parts of the UK leaving a skill shortage in London.
The worry of business leaders that there could be a shortage of skilled workers is not unfounded said a spokesman for Roomhunters. A report has already highlighted that more people than previous years are leaving London for other parts of the UK where it is more affordable to live. Although the average minimum wage in London is £8.80, with a 40-hour week paying £352 before tax and national insurance, it is not enough for a single person to afford a rental property.
The rental prices in London are forcing families to be split up with working aged children having to move to different parts of the UK. However, according to Roomhunters (http://www.roomhunters.co.uk), a London residential Location Company who help people to find affordable accommodation and rooms to rent, there is another solution. The London accommodation experts have said flat share is an affordable way to live and work in London, and to stay close to family members.
A spokesman for Roomhunters said: "With the continued rise in rental prices in London, more people are now leaving their jobs and moving to other areas of the UK. The average monthly rental price around the UK is £694 which is much cheaper than London. However, thanks to flat share, single people can still continue to live in London."
Flat sharing is not only helping people who are looking for affordable accommodation in London, it is also helping property owners with a spare room avoid having their property repossessed. A large number of people who own a flat in London are turning to Roomhunters to find people who would like to rent a room. This is helping them to pay their bills and avoid financial hardship. With reports that interest rates could increase in 2015, it has been predicted that more homeowners will look to rent out their spare room.
Roomhunters help people find affordable accommodation in London through moving into a spare room of a property. They also help homeowners find single people to live in a spare room they may have. By bringing people together, the accommodation experts are helping people stay in London instead of moving out of the area to other parts of the UK that are cheaper to live.
For people looking for flat share accommodation in London, or for homeowners looking to rent out a spare room, please visit https://www.roomhunters.co.uk
About RoomHunters
RoomHunters is advanced housing rental site, dedicated to helping people finding/offering accommodation.
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Company name: Room Hunters Ltd
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