Londoners pay £7.50 for speed dating to hunt for flatmates

LONDON:

“I’m a software engineer,” says Josephine Wright, cocktail in hand, as she introduces herself to another woman in a west London bar. Just like the other 70 young women who have paid their £7.50 ($9.65) fee, she has only one goal: to find her ideal roommate.

It’s a small price to pay, they say, to fast-track a search process that can otherwise take months in a city plagued by high rents and few options. Wasting no time, the women begin a Q&A with prospective housemates about their preferred neighborhoods, occupations, backgrounds and hobbies, trying to talk to as many people as possible in two hours.

Despite the time limit, the atmosphere is relaxed. Loud chatter and laughter interspersed with the sound of cocktail shakers at work behind the bar. Wright, 25, lists her three preferred neighbourhoods, ‘Greenwich, Walthamstow and Lewisham’, while another attendee stands next to a taped sign saying ‘East’ for those looking to rent in east London.

Both wear blue bracelets to indicate that they are looking first for roommates and then for a place to live. Fewer wear purple bracelets, for those who already have somewhere to rent and are looking to move.

“I think it’s particularly unique in London to have 30- and 40-year-olds in houses. I don’t think it’s a situation that people particularly want to be in, it’s a situation that people have just been forced into,” he says. Rachel Moore, co-founder of event organizer Girlies Guide.

Many participants cannot afford to rent a flat in London on their own, even with seemingly comfortable budgets of up to £1,500 ($1,900) a month.

“new phenomenon”

“If you want a nice flat on your own, it’s basically around £1,500 to £1,800 or £2,000 a month,” notes Ioanna, a 22-year-old intern from Greece.

In shared accommodation, tenants can find a room for less than £1,000. With London in the grip of spiraling rents, more and more young professionals have found themselves clinging to housing rather than branching out on their own.

“This is a new phenomenon,” according to Antonio Mele, associate professor of economics at the London School of Economics.

Higher interest rates have put pressure on landlords, prompting them to raise rents or even sell. The result is fewer places to rent and higher prices. Britain’s new Labor government has pledged to try to ease the crisis by relaxing planning restrictions to build more new homes. However, a lack of suitable sites as well as potential opposition to development plans mean it could take years to achieve. On average, renters spend between 35 and 40 percent of their income on rent, says Mele, who expects that percentage to rise in the coming years.

Appeal to London

Sharing the cost of a place to stay has therefore become a necessity for many – although finding a good match is not easy.

“You send a lot of messages and you don’t get many replies,” says Megan Brewer, 35, who moved to London from Sydney.

Taking advantage of the situation, some unscrupulous owners turn the living rooms into bedrooms or divide the rooms into two.

“What is advertised as a room may only be acceptable as storage in other European countries,” adds Mele. “You have no windows, it only fits the bed, and they’re being advertised for crazy amounts of money.”

Moore and co-founder Mia Gomes struggled with the rental market before starting the “speed dating” events for roommates.

“When we go to look at properties, the owner will tell us, I’ve seen 30 other groups today and the property has only been on the market for a day or two,” says Gomes. “You end up getting into bidding wars for a property and you end up paying for the value of the property.”

But for many, living in London with its booming job market and cultural life is still worth it — despite the hardships. “I’m going to have to cut back on my savings. But I think that’s a good trade-off,” adds Wright, “I’m in my 20s. I want to live life, be out there.”

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