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More woe for private renters

Thursday, 13 October 2011 11:01 AM

Spiralling and unaffordable rents are putting families under huge pressure, say the housing charity Shelter.

In the majority of areas private rents account for over a third of average take home pay, which is the widely accepted measure of affordability.

Between 1997 and 2007 rents rose at one and a half times the rate of income growth, piling more strain onto the shoulders of families not on the property ladder.

Campbell Robb, Shelter’s chief executive, said: "We have become depressingly familiar with first time buyers being priced out of the housing market, but the impact of unaffordable rents is more dramatic.

"With no cheaper alternative, ordinary people are forced to cut their spending on essentials like food and heating, or uproot and move away from jobs, schools and families."

Shelter research suggests that 38 per cent of families renting privately have cut down on food to help manage ballooning rent costs.

Rent affordability varies hugely across different parts of the country.

London boroughs are the most expensive area in England, with the average rent for a two bedroom house at £1,360, compared to the national figure of £568.

Rural areas also fall foul of high rent versus low earnings, with north Devon, north Dorset and Hertfordshire less affordable than big cities such as Manchester, Liverpool or Birmingham.

Outside of London the least affordable local authority area is Oxford, where typical rents account for 55 per cent of average earnings.

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Housing standards in London do not always add up to the high prices. Pic:Getty Images

London rents unaffordable on less than £52,000

Shelter warns of growing crisis after 70 per cent increase in families renting from a private landlord in last four years.

Demand from tenants remained positive across all regions.

Pace of private rent increases starts to slow

Tenants resisting sharp increases seen last year and more are looking to buy, finds RICS.
ARLA members reported an increase in tenants struggling to pay their rent. Image:Thinkstock

Tide may be turning in private rental market

Surveys report fall in asking rents and easing in demand as tenants struggle to meet payments.

 Average asking rents fell 1.5 per cent across the UK in November.

Renters urged to act fast to get best rates

Seasonal dip in asking rents creates window of opportunity for renters, says Findaproperty.com.
Tenant demand is still rising thanks to would-be buyers being locked out of the mortgage market.

Rents still rising and expected to rise more

Pace of increase slows down but demand still outstripping supply, says RICS.

Londoners face an average rent of £915 per month.

London renters face years as tenants

Survey finds reluctant renters unable to afford to buy but stuck with short tenancies.
Weakening house prices meant that the total return for landlords on a rental property fell to 3.4 per cent. Image:Thinkstock

Tenant demand sparks fresh rise in rents

First rise in average rents for three months as market heats up, says LSL Property Services.

 51 per cent of agents reported an increase in haggling. Image:Thinkstock

Rise in arrears and haggling as tenants squeezed

Four out of ten letting agents report rise in tenants falling behind with rent in ARLA survey.

The biggest rent increases came in East Anglia. Image:Thinkstock

Rent rises support buy-to-let yield for land

Average yield on buy to let was 6.1 per cent in 2011 on back of 4.8 per cent rise in rents, says BM Solutions.

 Seventy per cent of tenants say the current market favours landlords.

Rent increase expectations now at record high

Six out of ten private tenants expect rent rise as demand outstrips supply, says Rightmove.

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