A new survey shows that the average flat sharing price has increased from £368 to £375 this year. The increase which historically takes place in April has continued into May this year, resulting in a consistent rise in rental asking prices since December 2011.
The flat share part of the market is taken up typically by the student population in the UK, which means that the market experiences an increase at this time of year as many students are relocating to new areas for study.
However average rents in the South stand at £425, which is a £105 difference between the North and the South, this trend has remained consistent since 2011.
The average rent in England and Wales currently stands at £712. The increase in rental asking prices clearly demonstrates that flat sharing is continuing to be an attractive option. Despite the increases, flat sharing is still the cheapest and most cost effective option within the private rental sector.