{"id":6032452,"date":"2020-08-03T12:08:50","date_gmt":"2020-08-03T11:08:50","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=6032452"},"modified":"2020-08-03T12:08:50","modified_gmt":"2020-08-03T11:08:50","slug":"property-investors-see-growing-trend-for-co-living-couples-in-london","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/news\/property-investors-see-growing-trend-for-co-living-couples-in-london\/","title":{"rendered":"Property investors see growing trend for co-living couples in London"},"content":{"rendered":"

Rental trends in the UK continue to adapt and change, and property investors are focusing more than ever on ‘Generation Rent’. What’s the best property type to offer to tenants?<\/strong><\/p>\n

Co-living, where more than one household share a rental property<\/a>, has been a rising trend for many years now. As tenant types have changed, with more young professionals and older adults than ever renting for longer, co-living has become more appealing.<\/p>\n

A new study by Built Asset Management has spotted a marked rise in co-living enquiries over the past year. It found that in London<\/a>, where the trend is most prevalent, interest from couples increased by 136% between June 2019 and June 2020. The enquiries came from couples looking for one-bedroom contracts within shared properties.<\/p>\n

The average age of flat-sharing tenants has also increased. Back in 2018-2019, the mean age of couples renting rooms in shared space was 26.4. Now, that has risen to 29.3 years old.<\/p>\n

Household sizes<\/a> could also be on the rise. In Built Asset Management<\/a> properties specifically, the average number of people a couple shares accommodation with is three.<\/p>\n

What’s behind the rising trend?<\/h4>\n

One obvious benefit of living in shared rental accommodation is the financial aspect. Co-living and flat-share or house-share setups tend to mean the rent is cheaper. Particularly in the current climate, this might be more of a bonus to many. A lot of couples will also be using this saving to build up a deposit for a home<\/a>.<\/p>\n

However, there are other factors at play, which Alex Gibbs, co-founder and director of Built Asset Management, points out.<\/p>\n

“Economic factors are undoubtedly at work, with co-living offering an affordable option to renters seeking high-end accommodation, without the expense that comes with a single-let unit,” he says.<\/p>\n

“However, co-living has also undergone something of a revolution in recent years, with an influx of luxury properties onto the market.”<\/p><\/blockquote>\n

How the existing market could change<\/h4>\n

The expectation is that the trend will continue, and demand will rise. Property investors looking at investment options<\/a> should bear this in mind, says Alex.<\/p>\n

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\u201cThe key takeaway here for investors and developers, therefore, is to ensure that newly created co-living premises have both the amenities and the regulatory approval to house couples in as many of the units as is possible and practical.”<\/p><\/blockquote>\n

He concludes: “This will enable them to bolster returns, drive occupancy, and efficiently serve these new entrants to the co-living market.\u201d<\/p>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n