The number of renters in England and Wales soar will over
the coming decade as millions more people are caught in a trap of high rents
and house prices, according to a new forecast. The Centre for Economics and
Business Research (CEBR) think tank estimates there will be around 7 million
households renting in 2025, up from 4.4 million in 2014. This means 29% of all
households will end up as renters, up 9% from 2014. This is the opposite of
what the government wants after it made increasing the homeownership rate a
priority. Rents are also rising faster than pay. The average private rent in
England is growing at an annual rate of 2.5%, while pay excluding bonuses is
going up by 1.9%. Read more on the International Business Times website.
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