Renters opt for smaller flats as rents and bills rise

Rising resi rents and utility bills are causing tenants to switch from large, expensive properties to smaller, cheaper homes. Data from Zoopla showed that 35.4% of enquiries to estate agents in July and August this year were about two-bedroom flats, up from 29.8% in 2020. In the same two months, the proportion of inquiries about three-bedroom houses was 12.1%, down from 15.9% in 2020. Zoopla said average rents for all properties had risen by £115 from last year’s average of £1,051 a month, with rents in London rising by 17.8%. The FT (£)