RoomBuddies.com Comments On The Rising Cost Of Rent In The UK

Nov. 24, 2012 - PRLog -- RoomBuddies.com has commented on the rising cost of rent in the UK, noting a fantastic alternative to combat this spiralling cost of living in the form of flat shares and house shares.

RoomBuddies.com, one of the leading resources for those looking for http://www.roombuddies.com rooms to rent in the UK, have issued a statement and commented on the rising cost of rent in the UK property market in recent months through their blog and outlined how flats hares and house shares are a perfect way for those struggling with their rent payments to share the cost with other individuals in the same position.

The original post http://www.roombuddies.com/blog/2012/11/the-rising-cost-of-rent-in-the-uk/ which can be seen here outlines how the average rental price across the UK this summer was reported at a staggering £725 per month, with the average price in London being £1,057 per month. This level is seen in the fact that the annual rental inflation rate has increased to 2.9% and that this rate is increasing on an almost monthly basis. In contrast; the price of houses bought and sold has decreased by 2.6% over the same period, showing that the cost of renting a house or flat in the UK rising at an even greater level than the cost of buying is falling by.

A spokesman for RoomBuddies.com stated, “As has been the case in recent years; the cost of buying a house is going down whilst the cost of renting a house is going up. What this means is that it is becoming harder than ever for potential buyers to save up for a deposit and that, in many cases, they’re struggling even to afford rent. Whilst a few years ago, rent may have amounted to a quarter or maybe a third of an individuals monthly income; it’s not uncommon for this to be up to or around a half. With such an increase in rent over recent years, in conjunction with the relatively high level of deposits required by mortgage lenders, it’s becoming impossible for many to save up the money to put down as a deposit to buy a property and, as such, they get themselves stuck in a vicious circle of having no choice other than to rent.”

They continued, “What is great news, however, is that there are solutions to the issue of increasing rent. Many of those struggling to afford high rent are individuals, as opposed to couples and families, and, for these people, a fantastic solution is that of flat shares and house shares. The general principle is that individuals often don’t need a 3 or 4 bedroomed house to themselves and that it makes much more economic sense for all rooms to be occupied. As such, there’s been a significant rise in the number of people choosing to share a rental property with others, enabling a monthly rental fee to be split 3 or 4 ways. When you think on it; it makes perfect sense. Saving anything up to two thirds or three quarters of what you’ve previously been paying for rent allows money to be put away to save for a deposit and makes your monthly rent payments that little bit more attractive.”

RoomBuddies.com was launched to cater for this ever increasing flat share and house share market and provides a platform where those looking for someone to fill a spare room in their house or flat can advertise as easily as those who are looking for a room to rent. In essence, it provides a platform to connect those looking for rooms with those who have rooms available in a simple and straightforward manner.

For more information on how RoomBuddies.com works or to start looking for a room to rent to allow you to save money each month, take a look at their website at www.roombuddies.com.