Home hunters are turning to ‘all-inclusive package’ properties that put a ceiling on bills and offer more financial certainty, it has emerged.
New research analysing website search data of home-movers reveals that the nation’s renters are looking for improved financial confidence about potential costs of their next property.
Demand for ‘bills-included’ homes – which offer fixed monthly outgoings – have risen 28 per cent year on year, according to website search data of over 700,000 users of rental app Movebubble.
The Home Walkthroughs video app reported a 101 per cent rise in searches for homes from March to July, where utilities such as electricity, gas, water and wifi are included in the monthly rent.
Chief executive of Movebubble Aidan Rushby said: “It’s interesting to see the concept of all-inclusive rental packages emerge as a trend within the property sector as home-movers increasingly seek solace in nurturing financial certainty in an uncertain world.”
According to Movebubble’s data, Tower Hamlets, Wembley and Bayswater in London, together with Salford and Longsight in Manchester top the list for the most in-demand places to live offering all-inclusive package properties.
The analysis also revealed searches for ‘bills inclusive’ are more prevalent in one bedroom and studio homes – indicating a need for greater security than in larger house shares or family homes.
Mr Rushby added: “Having the certainty of paying a fixed amount of rent at the beginning of each month can be an easier way to manage finances.
“It has been a turbulent and unpredictable year – meaning many of us are looking to get our finances in order by creating some stability. Especially in terms of outgoings.
“So having the peace of mind that utility payments are under control can really offer tenants convenience and valuable peace of mind.”
“Convenience is definitely one of the most important factors for today’s renters, which is why we also introduced our virtual ‘Home Walkthroughs’ feature this year, allowing renters to view a potential new home room-by-room, without even having to go there.”