Rents Reach “Affordability Ceiling”
Recent research reveals that an average of one in three tenants is spending over half of their take-home pay on rent. 32% of people in London and the East Midlands; 33% in the South-West and Wales; and 36% in the South-East are spending more than half of their net income paying to keep a roof over their heads.
The impact of consistent rent increases, now reaching the affordability ceiling in some places, is to push renters into the “ripple-zone” of desirable areas and into some of the less popular parts of their local neighbourhood.
An increased demand in cheaper areas, the negotiation of lower rents and professional sharing all indicate that affordability limits are being reached.Posted on the 9th July, 2012