New figures reveal the percentage of disposable income required to rent in UK
According to the latest rental index from Landbay, tenants in the UK outside of London spend on average over half their disposable income on rent. In the capital the average rental value now stands at £1,879 per month meaning that London tenants spend almost 89% of their disposable income renting a home. Accordingly, most London households must rely on multiple or high-income earners.
Those workers willing to move further afield can save money with average rents in the South East standing at £1,053, some 58% of the average disposable income.
The region where the lowest percentage of disposable income is required to rent a home is the North East with just 41% required.
Full story available from PropertyWire: https://www.propertywire.com/news/uk/research-reveals-much-tenants-spend-renting-home-rents-rise-uk/