Tag Archives: regional rental rates

Families Pay Too Much Rent, Warns Housing Charity Buy to Let News, House Prices, Latest Articles

Buy to let rents are too high and are locking poorer working families out of finding homes to rent, warns a housing charity.

Rent amounts to a third or more of take home pay in more than half of towns and cities across the country, says Shelter.

The result is almost four out of 10 families with children have cut down on buying food to pay rent.

The Shelter study also revealed that the cost of rents varies widely across the country:

  • Rural renters often earning low wages pay higher rents with housing costs more affordable in Manchester, Liverpool or Birmingham than North Devon, North Dorset or Herefordshire.
  • London has the most expensive rents – a two bedroom home costs £1,360 per month, which is almost two and a half times the average of £568 for the rest of the country.
  • Oxford is the most expensive place to rent outside London, with typical rents soaking up 55 per cent of average earnings.
  • Cheapest rents are £394 per month in Burnley, Lancashire.

“Private rented homes meet the needs of many tenants, particularly those requiring flexibility and mobility for their work. However, less than half feel that private renting is a good type of housing tenure2 and for many households private renting is not a choice but the only type of housing they can realistically access,” said the report.

 

Shelter wants the government to stabilise the rental market with policies that bring rents more in line with average earnings.

Campbell Robb, Shelter’s chief executive, said: “We have become depressingly familiar with first time buyers being priced out of the housing market, but the impact of unaffordable rents is more dramatic.

“With no cheaper alternative, ordinary people are forced to cut their spending on essentials like food and heating, or uproot and move away from jobs, schools and families.”


Homelet Find Rents Are Still Rising Latest Articles, Lettings & Management

HomeLet logo

"Homelet's latest rental index show rents are up again"

Average rents across the UK continue to rise, according to Homelet’s latest rental index for August.

London went up a further 4% to £1,202, reaching a new record as the UK on the whole reached £791.

While month by month prices fluctuated up and down across the country, the annual change has been an increase except for the North East. London is now 12.23% more expensive rent-wise than this time last year and, compared to the rest of the country, rent prices in London are 53% more expensive. Continue reading Homelet Find Rents Are Still Rising


Rent prices still going up according to LSL Buy to Let News, Latest Articles, Property Market News

Rising Blue Arrow

Rents continue to rise

Rents are raging out of control in some areas of the country as tenants desperate for a home gazump their rivals and offer higher rents than landlords are seeking.

But buy to let seems a game of two halves – with some regions away from prosperous London seeing rents fall. Continue reading Rent prices still going up according to LSL


Property Forum and News website where UK landlords and letting agents share best practice