Property News · July 23, 2014

'Rent trap' keeping England's young people off the housing ladder


Tenants pay more for the roof over their heads than buyers, according to the government’s English Housing SurveyYoung people are being caught in a “rent trap”, with housing costs taking up so much of their income that they are struggling to save enough to buy a home of their own, it was claimed on Wednesday, as figures showed tenants are paying more than homebuyers for the roof over their heads.The government’s official English Housing Survey showed that in 2012-13 the 4 million households in England’s private rented sector paid an average of £163 a week for their homes, an increase of £10 since 2008-9, while the 7.2 million households buying their home through a mortgage paid £149. Continue reading…

Source : theguardian.com
Read more…‘Rent trap’ keeping England’s young people off the housing ladder

You may also like...