Leeds, Plymouth and Oxford are the UK’s shared rental marketplace hotspots

The latest research from the international rental marketplace, Spotahome, has revealed which major UK cities are home to the highest level of shared accommodation, for those looking to beat lockdown monotony of living alone.

Spotahome analysed rental market listing data from the major property portals across 23 major UK cities. The research looked at the total number of rental properties listed for rent, how many of these were shared accommodation, and what this equated to as a percentage of total rental stock.

Across these 23 major cities, just 14% of available stock in the rental market is shared.

While London is by far home to the largest number of shared rental homes with 76,471 listed online, the mammoth rental market in the capital means these shared properties equate to just 7% of all rental listings; the lowest of all cities.

In terms of the UK’s shared rental hotspots, Leeds comes out on top. Across the city, 43% of all rental properties listed are shared accommodation and offer the chance to boost your flatmate count.

Plymouth isn’t far behind, with 42% of all available rental properties being shared accommodation.

Oxford, Sheffield and Cambridge also rank high, with shared accommodation accounting for 41%, 40% and 37% of all available rental homes respectively.

Nottingham (37%), Birmingham (35%), Newcastle (30%), Liverpool (27%) and Swansea (27%) also rank in the UK’s top 10 shared rental hotspots.

Glasgow (8%), Aberdeen (9%), Belfast (13%) and Cardiff (13%) join London with the lowest availability of shared accommodation.

Spotahome Head of Data and Analytics, Jorge Alonso, commented:

“It doesn’t matter if you’re moving home within the same city, moving to another city in the UK, or moving to a completely different country, opting for shared rental accommodation can bring a number of benefits. 

“Of course, the driving factor for many is often financial, with shared rental accommodation not only requiring less in rent, but it also allows you to split the cost of bills and wider living amongst you and your housemates.

“It’s also a great way to meet people when moving to a new city which can make a big difference to your personal enjoyment and often means a fast track to finding the best places to socialise, get coffee, eat out and so on.

“However, in current times, shared rental homes also provide a further benefit. With a third national lockdown, many tenants have once again found themselves battling the loneliness of living alone. For those in shared accommodation, they at least have the daily interaction with their housemates even if they can’t do much, which can make a huge difference to mental wellbeing.”

Table shows the average level of rental stock listed on Zoopla and Rightmove and the percentage that is listed as shared accommodation. Collected (19/01/2021).

Kindly shared by Spotahome