The cost of renting rooms rises
The cost or renting a room has risen by 1% in Q2, ideal flatmate’s Room Rental Index has revealed.
Despite this decline, the capital saw costs of room rentals increase by 4%.
Tom Gatzen, co-founder of ideal flatmate, said: “A mixed bag throughout the third quarter with the cost of renting a room on the up yet again across the majority of UK cities, although some of the more expensive areas of London and the UK have seen the rate of rental growth cool to a degree.
“It’s still not clear as to whether the ban on tenant fees has led to a notable increase in rents and if it has, this certainly hasn’t trickled through to the nation’s renters yet.
“On the whole, we’re seeing lower rates of rental growth quarter to quarter than we did earlier in the year, but with changes to the tenant fees only impacting new tenancies or renewals, we could be yet to see the widespread surge in rental costs that many are expecting.
“While there have been some large uplifts across the nation’s more prominent cities and London’s peripheral boroughs, this increase is more likely to have been driven by tenant demand more than any other factor.”
The average tenant is currently paying £8 per square foot which has remained static since the start of the year.