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House Shares Proving Popular

House Shares Proving Popular

Data has shown an increase in the number of tenants reverting to flat shares following renting alone or with a partner. The data provided by website ‘Spareroom’ says 51% of its users are in this position, with a further 16% having been a home owner.

 

The past five years have seen the age group of 45-54+ rise by 50%, the total flatsharers aged over 35 has increased by a quarter.

 

Matt Hutchinson, director of SpareRoom, said: “While flat and house sharing is embraced by most young people as an affordable way to live, some prefer to make the leap to renting a whole property before they finally look to buy.

“That’s understandable, but for most, staying in shared accommodation would allow them to save for a deposit far more quickly, helping them achieve their ultimate goal – owning their own property – much sooner.

“The standard of flatshares is improving fast as landlords realise demand for quality shared accommodation is on the rise.

“The idea that, by flatsharing, home ownership could be within reach, will be incentive enough for many to stay in shared accommodation for a bit longer.

 

William Taylor, Director of Martin & Co Huddersfield (Property management Huddersfield, Letting Agent Huddersfield and Estate Agent Huddersfield) added “I am not surprised at these statistics at all. We have some really high quality house shares that are shared by a range of people. We are particularly seeing people work away from their family home and using shares as a way to keep costs down when working away from home in what has been a difficult economic time.”