Affordable housing specialist, MovingSoon has revealed that Liverpool is the most searched for location for affordable rental properties.
LIVErpool
It is easy to consider why you would want to live in Liverpool. Ten years on from its drastic transformation as the Capital of Culture in 2008, it is a vibrant and active city.
It may not be a surprise then, to hear that inhabitants are struggling to find cheap apartments or suitable housing. Perhaps the booming popularity of the city has resulted in the need for more affordable rental properties?
The struggle is real
As the UK housing crisis surges on, more are struggling to find the large cash deposits required to secure privately rented accommodation. However, there are various housing associations and councils that offer deposit free, affordable renting for those affected.
Interestingly, based on the MovingSoon results it’s not just cheap rental properties in Liverpool that are in demand.
Social rent hot spots and a solution
Four other cities have also been identified as affordable rental hot spots.
- Bradford
- St Helen’s
- Leicester
- South Shields.
Each of the above are vastly populated areas. The requirements are sure to apply pressure to the various social landlords, housing associations and councils.
Paul Malone, MovingSoon founder, comments:
“MovingSoon is seeing increasing levels of enquiries for cheap properties to rent. It is easy to identify the areas where affordable accommodation is in demand; we can receive hundreds of enquiries a day”
Part of the problem is having to find a large lump sum to make up deposits and fees at the start of a tenancy. This is forcing many into applying for affordable housing. However, this market may see some changes following the recent introduction of Deposit Free Rent. This will help to make private rental property more accessible to a wider market.
What is Deposit Free Renting?
‘Deposit free renting’ is a new initiative. It’s aim is to help tenants find a rental property without having to handover large amounts of cash up front. Having previously been the reserve of housing associations, private landlords can now partake in letting a property deposit free. In some cases they can actually have more protection.
The schemes vary depending on the provider, but essentially an insurance policy is taken out in relation to the tenancy. Tenants can also receive ratings to help build a ‘tenant profile’ and may be able to improve their credit scores.
Find a place to rent
If you are considering an affordable place to rent in one of the top 5 cities listed, you should act fast. Contact your local council to discuss eligibility and affordable rent applications.
If you are eligible to apply for social or affordable rent, you can try a specialist provider to narrow down your property search. Sites such as MovingSoon who only advertise affordable housing are a good place to begin.
And if you want to live in Liverpool, act fast and get a head start.
