Figuring out how to rent a room can often feel like a bit of a gamble. For instance, you might be concerned about who you may be able to attract, whether you will get on with your new housemate and how much to rent a room out for.
Here at badi, we’ve tried to remove at least some of that stress by offering services including verified profiles and easy-to-choose flatmates, as well as an easy to use app. But, of course, a significant factor in your efforts to rent a room will ultimately be where you live. While there is often huge demand for accommodation in the UK’s biggest cities, that may not be the case in some smaller locations.
However, with gentrification and redevelopment being part and parcel of life in the UK these days, are there any up and coming locations which look set to become increasingly attractive going forward? Here we gaze into our crystal ball to offer up a few suggestions on areas which are undergoing changes that could affect your efforts related to how to rent a room.
Research by PricewaterhouseCoopers and the think-tank Demos last year found that Preston was the most rapidly improving city in the UK, with the area even being regarded as being better to live in than London. This rising reputation may make it increasingly attractive to people going forward and, with it being less than an hour from Manchester on the train, it could be ideal for those looking to commute into the city.
While it may have a strong reputation for history and heritage, York has already developed a fairly strong selling point if you’re trying to figure out how to rent a room – it is apparently home to some of the best broadband speeds in the country. Furthermore, it is only a short train ride from Leeds, a major city which itself is on the rise thanks to redevelopment and the imminent arrival of Channel 4.
Research last year by RICS suggested that East Anglia is set to see sharp growth in rents across the coming years and it could be argued that parts of Suffolk are experiencing that already. Reports suggest that average rents for a two-bedroom flat have risen disproportionately by 22 percent between 2011 and 2018. So, looking at the current market, now is a better time than ever to rent a room in a high-demand region like Suffolk to save you a little extra cash.
Some of the UK’s top postcodes for buy-to-let rental yields are close to university campuses and, with that in mind, it will be interesting to see what kind of impact the University of Bristol’s Temple Quarter project goes on to have. The plans will see a disused area of the city transformed into a major campus by 2022.
So many different parts of the UK are undergoing significant change at the moment and while it is impossible to predict the future, we think that the areas highlighted above could be among those that will see a shift when it comes to rents.
It will be fascinating to see how developments go on to impact on those areas and the issue of how much to rent a room for, but it will be equally intriguing to see if others emerge to transform the landscape even further.
Find out more about how badi can help you rent a room.