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\u201cI\u2019m a software engineer,\u201d says Josephine Wright, cocktail in hand, as she introduces herself to another woman at a bar in west London.<\/p>\n
Just like the 70 other young women who have paid their \u00a37.50 ($9.65) fee, she has just one aim: to find her ideal housemate.<\/p>\n
It is a small price, they say, to fast-track a search process that can otherwise take months in a city plagued by high rents and scant choice.<\/p>\n
Losing no time, the women get down to question-and-answer sessions with prospective housemates about preferred neighbourhoods, professions, backgrounds and hobbies, trying to speak to as many people as possible in two hours.<\/p>\n
Despite the time limit, the atmosphere is relaxed. Loud chatter and laughter is interspersed with the sound of cocktail shakers at work behind the bar.<\/p>\n
Wright, 25, lists her three preferred neighbourhoods, \u201cGreenwich, Walthamstow and Lewisham\u201d, while another attendee stands next to a taped-up sign saying \u201cEast\u201d for those looking to rent in east London.<\/p>\n
Both wear blue wristbands to indicate that they are first looking to find flatmates, and then a place to live in.<\/p>\n
Fewer wear purple bracelets, for those who already have somewhere to rent and are on the hunt for people to move in.<\/p>\n
\u201cI think it\u2019s particularly unique in London that you have people in their 30s and 40s in house shares. I don\u2019t really think it\u2019s a situation people particularly want to be in, it\u2019s a situation which people just found themselves forced into,\u201d says Rachel Moore, co-founder of the event organiser Girlies Guide.<\/p>\n
Many participants cannot afford to rent a flat in London on their own, even on seemingly comfortable budgets of up to \u00a31,500 ($1,900) per month.<\/p>\n
\u201cIf you want a nice flat by yourself, it\u2019s basically around like \u00a31,500 to 1,800 or 2,000 per month,\u201d notes Ioanna, a 22-year-old intern from Greece.<\/p>\n
In shared accommodation, renters can find a room for under \u00a31,000.<\/p>\n
With London in the grip of spiralling rents, more and more young professionals have found themselves sticking to houseshares rather than branching out on their own.<\/p>\n
\u201cThis is a new phenomenon,\u201d according to Antonio Mele, associate economics professor at the London School of Economics.<\/p>\n
Higher interest rates have put pressure on landlords, prompting them to raise rents or even sell up.<\/p>\n
The result is fewer places to rent and higher prices.<\/p>\n
Britain\u2019s new Labour government has vowed to try to ease the crisis by relaxing planning restrictions to build more new homes.<\/p>\n
A shortage of suitable sites as well as potential opposition to development plans, however, mean that could take years to achieve.<\/p>\n
On average, renters spend between 35 and 40 percent of their income on rent, says Mele, who expects that proportion to rise over coming years.<\/p>\n
Sharing the cost of place to live has therefore become a necessity for many \u2014 although finding a good match is not easy.<\/p>\n
\u201cYou send out lots of messages and you don\u2019t get lots of replies,\u201d says Megan Brewer, 35, who moved to London from Sydney.<\/p>\n
Taking advantage of the situation, some unscrupulous landlords are turning living rooms into bedrooms or dividing rooms into two.<\/p>\n
\u201cWhat is advertised as a room might only be acceptable as a storage in other European countries,\u201d adds Mele.<\/p>\n
\u201cYou have no windows, only the bed fits in and they are advertised for crazy amounts of money.\u201d<\/p>\n
Moore and co-founder Mia Gomes struggled with the rental market before launching their \u201cspeed dating\u201d events for housemates.<\/p>\n
\u201cWhen we\u2019ve gone to look at properties, the landlord will tell us, I\u2019ve seen 30 other groups today, and the property\u2019s only been on the market for a day or two,\u201d says Gomes.<\/p>\n
\u201cYou end up getting into bidding wars for a property and end up paying way over what the property\u2019s even worth.\u201d<\/p>\n
But for many, living in London with its thriving jobs market and cultural life is still worth it \u2014 despite the difficulties.<\/p>\n
\u201cI\u2019ll have to cut down on my savings. But I think that is a good trade-off\u201d, adds Wright, \u201cI\u2019m in my 20s. I want to live life, be out there.\u201d<\/p>\n<\/div>\n