SpareRoom: Flatsharing demand soars in London, where it's the only affordable way to live independently

Demand for rooms in London has increased 98% year on year, and the UK’s leading flatshare website, SpareRoom.co.uk reports that East London is the hottest place to live right now. Demand for rooms in this part of the capital has grown the fastest, up 153% since last autumn. Around a third of all London’s room seekers are looking for a room in East London.

However it’s not all bad news for wannabe London renters. Supply has increased by 68%, and although it’s not keeping pace with demand, rents have not risen year on year.

In East London, supply of rooms has ballooned by 107% which has helped to stop rents from skyrocketing.

On average, renting a room in London costs £770 less than renting a one bed flat on your own, which helps to explain its popularity amongst Londoners locked out of home ownership.

Documentary Reveals London's Crazy Flatshare Market

Wednesday’s Channel 4 documentary 'How to find the perfect flatmate' explored the intense nature of flat hunting in London, where housemates struggle to select the right flatmate from the hundreds of responses they get. It also revealed an alternative way to find the ideal flatmates – by going SpeedFlatmating. 

SpareRoom has been running SpeedFlatmating events in London for ten years and director Matt Hutchinson explains their appeal:

“Instead of spending hours running all over London, only to find that you don’t get on with the existing flatmates, or waiting in for people, only for them not to show up, savvy Londoners are realising that going SpeedFlatmating saves them a lot of time and effort. You can meet loads of potential flatmates all in one sociable evening, and decide who you’d get on with first, before arranging to view the flat”.

SpeedFlatmating events are run several times a week, in different areas of London. To find out what’s going on in your area, visit www.speedflatmating.co.uk

SpareRoom is the UK’s leading flat and house-share website with more than 3 million registered users. It is the only flat share site featured in the Hitwise top 10 UK property sites. SpareRoom charts average prices across the UK in its room rental index, which is available for download.