Tuesday, 1 November 2016

How Tough It Is Being A Member Of Generation Rent

Generation Rent is ever-growing: the number of households under the age of 35 in the private rented sector rose by more than one million over the past decade. Also rising are rent prices - while wages are not keeping up.  Rents in Great Britain rose by 2.3pc in the year to September; the hike in stamp duty for landlords in April caused a surge in purchases and a subsequent glut of rental properties on the market which have kept rental prices stable. In London, rents are running far away from average wages, which are still below the level in 2011. Tenants in the capital spend on average two-thirds of their income on rent, up from half six years ago. By 2025, 60pc of Londoners will be renters - compared to 40pc in 2000. Read more on the Daily Telegraph website.

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