Georgie Frost from The Times’ Money Mentor discusses the difficult situation facing people as rental costs rise to record levels.
Private home rents in England have increased to their highest point on record after shortages in supply and mortgage rates rising.
According to Rightmove, the average rent for new properties being put on the market now stands at a record £1,278 per calendar month outside London in the July to September period.
Georgie says: “A third of people in this country are spending over half of their income on rent.”
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21 Comments
Just say thank you government for lockdown and printing money
Not supply and demand . Section 24
By all means legislate us out of the PRS, But please explain, where are our tenants who we evict going to live ?
The reason landlords are selling up and there is now limited supply of rental properties is because the Tories decided to "effectively" tax landlords on turnover and not profit!!!!! It is called SECTION 24!!! Without section 24 rents would plummet and supply would return!!! For the love of God report on this properly, don't just mention in passing that there has been "some" tax changes, this is the key to the whole rental crisis!!!
Once upon a time, landlords like me could break even. Since the government introduced “Tenants Tax!”, this is no longer possible. Airbnb is the answer! No Tenant Tax!…..
absurd to get more and more regulations. regulate your heads.
No get rid of landlords and bring back council housing. It was a great way of life I grew up in one and couldn’t of been happier then I am in renting privatly
I pay 40 percent tax on salary 60 percent on Rent rest on grocery 😢 nothing left at the end
A lot of landlords of the left the market but more and more homes are landlord owned …mmmmm ..go figure…we have fewer landlords owning more property …your small ex landlords and tenants are still the losers..little sympathy for the prior !
The true classic is landlords are leaving the market due to tax conditions which will affect availability.,….are they demolishing the properties they are walking away from lol.. ridiculous…buillders provide houses not charletons that own title deeds … turnover should be taxed on landlords their mortgage is eventually is for their gain when they own property they lease it shouldn't be classed as a business expense !
It comes down to not enough social housing thacher sold it all .
In the 80's a single person without kids could easily rent a 2 bed council house for 40 quid a week. It should of course be the same today but isn't and won't be until people stop electing Labour or Conservative governments. It should be obvious by now that these politicians are no longer working in the best interests of the population and until they are got rid of people in the UK can expect more pain.
The joys of DIVERSITY !
And the boats keep coming. And get this property prices will double why? Migrants.
The government has pandered to the anti buy to let lobby. The result , is landlords leaving the market. This in turn has hurt the very people they were supposed to be helping.
High property prices , under supply and over demand caused by lack of building and immigration.
Air b and b is also a factor, taking property out of the rental market and adding to the problem.
Immigration has had a massive effect. The last two years have seen a total nett migration of over 1.3 million extra people to find homes for.
It’s not rocket science.
More regulations? How is yoir right wing free market nonsense flying now?
Shut up and pay.
My house is owned outright. 🤣
Those evil bastards trying to make safe and energy efficent houses…
For lesser peiole it s 2 thirds for just a room..bfore bills food extra meds etc…they the govt should be put in prison the lies corruption and rmbezzlement of country s money. Not houses room… 😢
£1300 i wish, im trying to find a 2 bed in slough and and average prices are between £1400 – 1700pcm for a 2 bed. Its ridiculous. Im stuck in a 1 bed with my partner and my autistic child , we both work but still cant get anywhere
Get on a dingi from france and they will give you a house if you are a sertain religion