Wednesday, 15 June 2016

Cost Of Renting One-Bed Property Soars In UK

The cost of renting a one-bedroom property in the UK has risen to swallow almost half of the average young worker’s take-home pay, according to figures. The average cost of a new tenancy on a one-bedroom home hit £746 a month in May, taking up 48% of the take-home pay of a worker aged under 30, data from property firm Countrywide showed. Rising rents had outstripped growth in earnings to such an extent in the capital that since 2007 the proportion of take-home pay used to meet the cost had increased from 41% to 57%. The firm said tenants were responding to the higher costs by moving into house shares. Read more on the Guardian website.

No comments: