Areas in the Home Counties are now more expensive for those renting their home, than areas of Greater London. A new survey reveals that four districts in the South East see private renters typically paying more than half of their income out in rent.
Three Rivers, South Bucks, Oxford and Forest Heath top the ranking of the 20 most expensive locations outside London. In Three Rivers, north of London, renters typically pay 54.3% of their income out on an average monthly rent of £1,372 per month. Even in East Dorset, ranked twentieth in the league table drawn up by the National Housing Federation, renters are paying out 43.1% of their income in rent.
The figures provide a contrast to those recently drawn together by Homelet, which showed how some cities away from London still provide great rental value for tenants. Private renters in Plymouth, for example, pay just 27% of their income in rents, while Welsh capital Cardiff offers good value with rents typically 29% of incomes.
NHF works to support housing associations, and blames the increasingly unaffordable rent levels on a fundamental shortfall in housing provision. It is lobbying the government to solve the shortfall in housing construction in the UK. Unless something is done, rents will continue to rise, it warns.
“Private renters today are getting a raw deal and are paying the price for a housing crisis that’s been decades in the making,” said NHF chief executive David Orr. “Unless we build the affordable homes we desperately need, ordinary working families and young people will continue to struggle to pay their rent, and will have less and less money left to cover basic bills like food and heating.
“We need a long term plan from politicians to put this right. We’re calling on all political parties to commit to end the housing crisis within a generation.”