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Anedotal - Room For Rent Downturn

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Over the last few years as a sufferer of various forms of house sharing on several occassions I have had to place the usual 'Room for rent' ads in the local press.

I did this again recently, looking to rent out a spare double room in a clean, nice-looking house. Three responses - one just a casual phone call who deceided the room was not in the right area, one who said they'd call back after the weekend and didn't, and a third friednly person who came round, liked it, and took it.

This contrasts with the usual 10-20 phonecalls I'd usually take when doing this over the last few years. Night and day.

Now, most quality room-renters here tend to be young professionals/solid job people moving into the area to take up a particular job. But both my employer and my wife's are offering far few new openings than in previous years. Friends report a big upturn in speculative CV-sending at their workplaces, suggesting people are working harder to find suitable openings. Many are in companies with sales which have started to tail-off significantly over the last six months and are a mildy nervous about it.

So if the jobs market is drying up there's no reason to enter the area and no reason to rent a room.

Perhaps landlords who have benefitted from areas with strong jobs-growth over the last few years could get stung by the same effect.

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