10^th Dec 2014

A letting agency's survey shows that 18-24s in the City, are more concerned about renting in the right location rather than size.

When asked if they would be happy to live in a "micro flat" - a studio flat of about 300 square feet, so long as the tiny residence waspart of a building that had communal space, 45% said that they would seriously consider the opportunity, so long as its position was right for their needs.

Young Londoners would rather rent a tiny studio flat rather than a large property which was not so well located.

What is also surprising is that 32% of 25-34's that were also polled and 37% of 35- 44 year olds, said that they could be interested in a smaller flat too.
 
From the youngest age group 56% said that renting was the most favourable option for living in the capital, 30% of 25-34 age bracket and 27% of 35-44 year olds also agreed.

The Head of UK residential research of the letting agent, Grainne Gilmore said: "In terms of location vs affordability, a significantly higher proportion of Londoners, especially younger tenants, are prepared to live in smaller types of accommodation to ensure they are in a good location at an affordable price,

"The private rented sector is growing in London and across the UK. While this is undoubtedly linked to trends in house prices, the sector is also expanding amid a demand for a more flexible workforce in key urban areas."