Property News · July 3, 2017

One in seven private tenants pays more than half income in rent, study finds


Only 2% of homeowners spend similar a salary percentage on their mortgage, according to LGA researchOne in seven tenants privately renting from a landlord is paying more than half of their income in rent, compared with just 2% of homeowners who pay more than half their income on their mortgage, according to new research.The Local Government Association, which compiled the figures, said high rents were preventing young adults from saving up for a deposit for a home of their own. It said the average deposit now cost 71% of a first-time buyer’s annual income. Continue reading…

Source : theguardian.com
Read more…One in seven private tenants pays more than half income in rent, study finds

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