‘Crisis’ Warning With Rent And Mortgage Payments Near Parity

The amount being paid by private renters in England is approaching parity with mortgage payments having jumped more than 160% in less than a decade. Now, campaigners warn of a coming ‘rent crisis’ as the number of renters rises. Ten years ago, the amount of rent being paid was only 30%of the total handed over by homeowners. New analysis for Shelter shows the current figure pushing past 75%. Overall, the Shelter figures – not adjusted for inflation – show the total amount spent on private rent jumped more than 160% in under a decade – from £15.9bn in 2006 to £41.3bn in 2015-16. The total spent by home owners almost flatlined – rising just 5% from £52.1bn to £54.9bn. Read more on 24housing.

https://www.24housing.co.uk/news/crisis-warning-with-rent-and-mortgage-payments-near-parity/