New research from COHO shows that bills-included rooms in shared houses (HMOs) is around 50% more affordable on average than renting a one-bed flat.
Landlord Today says that live listings of rental properties in England show that the average rent for a room (excluding bills) in a shared house is estimated to be £690 per month. Whereas, for only £50 more per month, tenants could get bills included with their rent (for £742 on average.)
One-bed flats
According to Landlord Today, “The average one-bed flat in England now rents for £1,141 per calendar month. Add essential household bills — which COHO estimates at £332 per month — and the total monthly cost of going it alone rises to £1,473.”
Household bills and student living costs
Save The Student states that “the most expensive places to live as a student in the UK can be found in the South of England.”
London is always expected to be the most expensive region due to higher costs of rent and living costs being generally higher. For those students living in London, £1264 per month is the average cost of living.
Alongside London, the South East and South West of England follow closely behind. However, Northern Ireland and the East Midlands are the cheapest areas in the UK.
Despite this, Save The Student highlights the importance of noting that in almost every part of the country this year, student living costs exceed £1,000 a month.
Bills-included house share
With the cost of household bills rising and tenants never knowing how much they will actually have to pay each month – getting bills-included is often seen as a great safety net for students.
On top of this, the research shows that tenants who pay their bills included into the price of their rent are paying 49.6% less each month than those who are renting a one-bed flat.
Shared house listings across the UK
Landlord Today says, “Across England, 64% of shared house listings are advertised with bills included.
“In some regions, the prevalence is even higher: the North West leads with 76% of shared listings including bills, followed by the East of England at 70%, and the South East where 69% of shared listings offer all-in monthly rents.”
