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Section: Housing Finance

Rental logjam as one in seven private renters spend half their income on rent

Posted 03.07.17
Local Government Association (LGA): Article link

A shortage of affordable housing is leaving a generation stuck in a "rental logjam", warns the LGA.

Its new analysis show that almost one in seven private renters (14%) are spending more than half of their total income on rent, in stark contrast to just 2% of homeowners on their mortgage.

Local government leaders said the figures highlight the difficulties renters face not just in finding an affordable home to live in, but in saving up a deposit for a home of their own, with the average deposit now costing 71%t of a first time buyer's annual income.

The LGA is calling for the Government to enable the building of a new wave of rented homes that reflect what families can actually afford - no more than a third of total household incomes.


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Updated 04.07.17

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    Reporting on July 2017

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