The high cost of living in London is no secret. It’s one of the most expensive cities in the world, and rent prices are through the roof. This has led many people to seek alternative places to live that are more affordable, while still being able to work remotely. And thanks to the rise of technological advancements, working remotely is easier than ever before.
There are a number of reasons why working remotely has become so popular in recent years, and it’s not solely because of the pandemic.
Enjoy a better work-life balance
For starters, it allows people to have a better work-life balance. With remote working, there’s no need to commute into an office every day. This means that people can spend more time with their families or pursue hobbies and other interests outside of work. Additionally, remote working can be more flexible in terms of hours. Rather than being tied to a 9-5 schedule, remote workers often have more control over when they work, which can be a huge benefit for those with families or other commitments outside of work.
Another reason why remote working has become so popular is that it allows people to live anywhere they want. No longer are people constrained by geographical location when it comes to finding a place to live. Thanks to remote working, people can easily move to cheaper areas outside of London and still maintain their current job and salary. This flexibility is one of the main reasons why so many people are choosing to work remotely.
Working remotely has a lot of benefits, both for employees and for businesses. employees can have a better work-life balance, more control over their hours, and the ability to live anywhere they want. Meanwhile, businesses can save on overhead costs by not having to maintain an office space. If you’re thinking about making the switch to remote working, there’s never been a better time!
A recent study into the average cost of rent shows why people are turning away from the capital and the South East of England in general, to locations such as the North East of England.
Average Rent in Newcastle
- One bedroom comes in at £872pcm
- Two bedrooms have an average rent of £995pcm
- Three bedrooms carry an average rent of £1104pcm
- Four bedrooms are on the market for an average rent of £1539pcm
- Five bedrooms have an average rent of £2257pcm
The average cost of rent in London is markedly different, and you can see why there are benefits to renting in Newcastle.
- One bedroom – £1105pcm
- Two bedrooms – £1534pcm
- Three bedrooms – £1754pcm
- Four bedrooms – £2606pcm
- Five bedrooms – £2248pcm
It is interesting to note the average cost of a one-bedroom rental property in the capital is more expensive than a three-bedroom property in Newcastle. This means friends or colleagues could rent together at a far greater saving in the North East than in England.
It is also interesting to note that the average rent for a five-bedroom property is slightly more expensive in Newcastle than it is in London.
Contact Urban BASE for all your property market needs
If you would like to arrange an appointment to discuss your next move in the property market, we are always happy to help. Call us on 0845 6431186 today.