September 2023 - New data from SpareRoom has revealed just under three quarters (72%) of renters are either actively looking (46%) to move to a new area or are considering it (26%), due to record high rents.
High rents are pushing people to leave the UK
One in 14 (7%) renters who are either actively looking or in the process of considering a move are looking to leave the UK entirely due to high rents. Nearly a third (30%) are considering both a move elsewhere in the UK as well as weighing up their options abroad in search for cheaper accommodation. Sadly, this isn't a surprise as UK room rents are at an all time high (hitting £794 per month), London & surrounds saw rents exceed the £1,000 mark for the first time on record (£1,013).
Where outside the UK are people looking?
The top five countries renters are thinking of moving to are:
- Spain
- Australia
- Portugal
- France
- Germany
A quarter of renters know someone who has moved abroad due to high rents
As the cost-of-living crisis continues, half (51%) of UK renters say they know someone who has moved elsewhere in the UK to escape rising costs, whilst a quarter (25%) know someone who has left the UK and moved to another county.