Demand for shared rental properties soar as tenants battle lockdown boredom

Property Reporter
15th May 2020
To Let 556

Newly released data from lettings management platform, Howsy, has revealed the areas where there has been the largest uplift in appetite for shared rental homes amongst tenants.

Howsy looked at which city was home to the highest level of let agreed homes as a percentage of the total stock listed on the major portals to see where tenants are snapping up shared rentals in anticipation of the lockdown lifting.

According to the figures, Newport currently has the highest demand, with 21% of shared rental properties listed as already let. At 17%, Bristol also ranks high for shared rental properties, along with Nottingham (14%), Glasgow (13%) and Plymouth (12%).

Belfast was home to no shared rental property listings at all, while Edinburgh had shared rentals available, however, none had been snapped up by tenants.

Calum Brannan, founder and CEO of Howsy, commented: “It’s interesting to see where shared rental accommodation is most in demand at present and this is no doubt due to tenants attempting to beat the lockdown boredom of living alone.

"However, the best course of action for the moment is to, of course, sit tight and only move property if absolutely necessary. But while the market has somewhat ground to a halt due to the current pandemic, many are still managing to progress their hunt for a rental property online.

"Sitting tight doesn’t mean you can’t get your ducks in a row and now that technology has advanced the UK rental sector to a huge degree, you can do everything required to secure a rental property from communicating with landlord and agent, digitally signing documents and paying your deposit without leaving the house.

"This means that once normality does return, you’re ready to move and can beat the rush of an inevitable influx of market activity.”

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