Piggybank News

July 17, 2012

Rightmove suggests that rents are becoming unaffordable in some areas.

Filed under: Property — nspresources @ 5:00 pm
Tags: , , , ,

Rightmove has published the results of a survey of some 6,913 existing tenants.  They say that it should provide ‘food for thought’ for investor landlords.

Among the finding are…

  • Around one in three tenants (30%) is spending over half their take-home pay on rent.
  •  The overall average in the UK of rental spend is now 38% of net income.
  •  61% of tenants expect their rent to be higher in 12 months’ time.

Miles Shipside, director of Rightmove, said: “While the failure of rental supply to keep pace with tenant demand persists, fuelled by the needs of tenants unable or unwilling to buy, our research raises some interesting questions about how high the affordability ceiling is and how close we might be to it.”  He went on: “While the rental bubble is unlikely to deflate, as there is no readily acceptable alternative to the rented roof, it does appear to be approaching a limit in some areas.”

Piggy would like to know what your feeling is in regard to rents for the Milton Keynes area.


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