Solo living surges amid cost-of-living crisis

Solo living surges amid cost-of-living crisis

0:02 AM, 25th July 2024, About 2 days ago 2

Text Size

The number of young people living alone in the UK has rocketed by a third in just one year, with 237,000 individuals now embracing solitary lifestyles, research reveals.

While this trend highlights a growing desire for independence, it coincides with a severe cost of living crisis that is making solo living increasingly challenging for many.

Insurance experts Alan Boswell Group have unveiled a comprehensive analysis of one-bedroom flats, studios and single rooms across England, revealing stark disparities in rent costs.

Most affordable city for solo renters

The firm found that Hull is the most affordable city for solo renters, with average rental costs of £8.85 per square metre.

Bradford follows closely at £9.17, while Stoke-on-Trent, Liverpool and Wolverhampton round out the top five cheapest cities.

Conversely, London reigns supreme as the most expensive city for solo living, commanding a hefty £23.39 per square metre.

Bristol and Brighton and Hove occupy the second and third spots, respectively, with rental prices exceeding £19.

Big disparity exists

Alan Boswell Group highlights that there’s a big disparity which exists between the North and South of England.

Northern regions, it found, boast an average rental price of £10.22 per square metre, while Southern counterparts demand a staggering £18.09 – that’s 76.95% more.


Share This Article


Comments

moneymanager

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

10:25 AM, 25th July 2024, About A day ago

'Embracing solitary lifestyles'?

Subscript, in this 'interconnected' world people have become ever less capable at personal interactions and relationship building, it is disempower meant and social destruction, put down that phone and talk to people

Paul Essex

Become a Member

If you login or become a member you can view this members profile, comments, posts and send them messages!

Sign Up

12:53 PM, 25th July 2024, About A day ago

Couples moving in together also badly damages their entitlement to benefits and I am sure this is also having an impact.

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Tax Planning Book Now