Amount of Rooms to Rent in the UK increases by 27% in two weeks!
As most of Britain and the rest of the world are recovering from the financial bruising that Christmas tends to leave us all with every year, many people have been forced to consider ways of making an extra income. The amount of rooms to rent in the UK has gone up by 27% in just the first two weeks of 2010. Clearly, we’re struggling and renting out spare rooms seems to be an extremely plausible solution. A report recently released by Spareroom.co.uk has revealed that 65% of people who are advertising a room to rent are doing so because of the financial crater that has been left in their wallets thanks to Christmas just passed. Matt Hutchinson, director of Spareroom.co.uk, said: "It seems that Christmas has acted as a tipping point for many homeowners whose finances have been stretched to the limit by the impact of the recession." Statistics however, also reveal that this sudden increase in single rooms to rent actually started last year already. According to Abbey Mortgages, 2009 saw the number of homeowners advertising rooms to rent in their flats and houses increasing by 300% over the course of the year. Nici Audhlam-Gardiner, director of Alliance & Leicester Mortgages of Alliance and Leicester had the following to say about the research results: "If you have a spare room that's gathering dust, it's worth considering a lodger and earning £4,716 a year. Not only will you have some extra money each month but most of it could be tax-free too." Numerous sources around London including Fulham estate agents noted that the good news for the thousands of people, who are looking for people to occupy their spare rooms, is that the number of recent graduates looking to find a room to rent has also increased drastically over the first two weeks of 2010. A third of these graduates searching for places to stay are people who have just got their first job and are extremely eager to move out of their parent’s houses ASAP. Lettingsearch.co.uk director, Phil Calderbank, said: “The latest Government figures show an increase in young people obtaining work at the end of 2009, which has played a part in shaping some firm resolutions from this group to start the year on their own two feet.” Most people currently looking for accommodation are content with renting for the foreseeable future, as the credit crunch has made it difficult for young professionals to gather the necessary finances to purchase their first house. According to unbiased.co.uk, one in eight people that were questioned indicated that they were more than happy to continue with rooms to rent in the UK rather than jump into a long term loan situation as happens when purchasing property. Article Source: http://www.articlesbase.com/news-and-society-articles/amount-of-rooms-to-rent-in-the-uk-increases-by-27-in-two-weeks-1766667.html About the Author
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