Spare Room sector remains tiny niche market

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20 July 2023

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By Graham Norwood

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Spare Room sector remains tiny niche market - new figures

A new study claims to reveal what it calls “a significant disparity in the spare room rental market.”

The research shows that 75 per cent of homeowners aged 25 to 45 possess spare rooms, yet only 6.5 per cent of them currently let them out.

The study also shows that 68 per cent of homeowners in this age group prefer to rent their spare rooms exclusively to individuals they know or have friends in common with.

Financial motivation emerged as a key factor, with 98 per cent of respondents indicating that their primary reason for renting out a room is to alleviate financial burdens. Typically this was to help pay their mortgages, cover bills, or simply have extra spending money.

However, the survey is small.

Matesplace, which commissioned it, says the study was conducted online with just 267 UK house and flat owners between 25 and 45 years old in June this year; only 201 responded.

Of those, 6.5 per cent let a spare room currently either on a long or short term basis; 29 per cent have no interest in renting out their spare room.

Some 68 per cent of the 142 respondents who rent or would be willing to rent out a spare room would only do so for a friend or someone they have friends in common with.