Desire to save money 'leads to rise in flat shares'

by Daniel Jones

People in the UK are increasingly in search of a flat share agreement to help them cut costs, director at SpareRoom Matt Hutchinson has noted.

There are various financial reasons for sharing a property, he explained, although it is not something that will suit everyone.

"If you balance out the costs of living on your own then you might get a single person discount, but you are still paying 75 per cent of the council tax," he continued.

Mr Hutchinson emphasised that by entering into a flat share, tenants are sharing the cost of all the communal space, but can still have their own room to retire to.

Endsleigh reported last month that twice the number of people in the UK are now renting (45 per cent) in comparison to owning their own home (23 per cent).

The main attraction of renting was found to be the flexibility it offers as opposed to owning a property.

Published on: September 1, 2011

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