According to new research, a third of those renting under 35 have relocated to their home because they needed to return to work.
Tenants who have been displaced from major cities may need to relocate closer to work because workers are increasingly returning to the office for at least part of the day.
Urban Jungle’s research highlighted the difficulty for young people to find affordable housing during the pandemic.
The survey found that 27% of people polled, aged 18 to 35, felt renting a space within their budget was ‘painfully difficult’ in the wake of the pandemic.
According to research, one in three teenagers has moved in the last eight months.
Survey respondents were aged 18-35 and included 1,037 participants. The results of the survey came earlier in this month, when more people moved back into cities. This is consistent with worker return to work.
Zoopla did separate research that found rents were rising faster than ever since 2008, as more people return to the city centre.
According to Zoopla, the demand for central London lets has more than doubled in June and September compared with the first three months.
It stated that Birmingham’s demand has increased by 60%. According to the property site, lettings have been buoyed by students returning from work and the return of office workers.
The higher demand had “presented opportunities” for landlords, it claimed, and even London, the worst-hit pandemic city, saw an increase in demand.
Zoopla said rents were 4.6 per cent higher in September than a year before at £968 per month on average – the strongest growth seen in 13 years.
Majority of young adults find moving houses and renting more challenging than ever before the pandemic. Urban Jungle found that only 4 percent disagreed.
60% of respondents also believe they are in an “unfair disadvantage” when it comes to managing money and saving.
Tenants feel unfairly treated when they are hit with unforeseen costs, such as legal or agency fees. Research showed that 62% of youth felt this way.
Most young adults find moving houses and renting a place more challenging than ever before the pandemic.
Research also revealed some gender differences. 46% of the young males who moved in the past eight months were returning to work, while only 25% of the young females did so.
However, it is harder for women to find a home within their budget when they are looking. 30% of them claim that this has been more difficult than before the pandemic. This compares to 22% of men.
Urban Jungle attributed the gaps to the long-term effects of the pandemic’s financial impact on women’s finances.
Urban Jungle founder Jimmy Williams stated: “It was essential to us to dive deep into the feelings and thoughts of young people within the ever-changing rental world – which’s become more turbulent because of huge social shifts that have resulted from the pandemic.
“It is shocking to see so many young people struggling to find affordable rentable places and being stung with unforeseen costs. This is enormously unfair, as many of their jobs require them to live in specific areas.
According to the Office for National Statistics data, 67% of adult workers are currently traveling for work.
A separate ONS report found that the highest earners in London could not privately rent property at an affordable price last year.
Zoopla revealed that rents in the UK are on the rise.
