Average monthly room rentals are at their most expensive ever according to lettings platform SpareRoom.
It says in London the typical monthly room rent is £815 pcm, some 15 per cent more than a year ago. Record highs are also being recorded in many other parts of the UK - every singly region has reported an increase in the past month.
The platform says this is due to a perfect storm of low supply, high demand and rocketing energy costs being passed on through rent increases.
In London, the most affordable postcodes are mainly in the southeast and east regions. The cheapest area to rent a room in the capital is still Abbey Wood (SE2) at £616, followed by Manor Park (E12 ) at £620 and East Ham (E6) at £621.
As you’d expect, the least affordable postcodes are in central and west London areas - West End/Soho (W1) had the highest room rents at £1,299 followed by Westminster/Belgravia/Pimlico (SW1) at £1,097 and Earl’s Court/West Brompton (SW5) at £1,060.
Outside of the capital, the most expensive areas to rent in Q2 2022 were Kingston Upon Thames (£727), Twickenham (£711) and Barnet (£709).
Conversely, the cheapest areas to rent a room were Darlington at £391, Huddersfield at £394 and Middlesbrough at £396.
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No great shock. The imposition of minimum size standards by many councils on flats has inevitably reduced the supply of smaller self contained units to rent so, combined with the push to reduce HMO’s and the need for single people to find housing there is yet another imbalance between demand and supply.
This survey is some sort of a joke. Their is no way a room in the north east costs £391 a month.
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