Quarter of tenants spend more than half their income on housing
A new YouGov survey, commissioned by TheHouseShop.com, has underlined the growing concern over housing affordability in the UK.
It’s widely accepted that for housing to be genuinely affordable, rents, mortgage costs and other housing related costs should account for no more than 30-40% of a person’s monthly income. TheHouseShop.com survey paints a worrying picture for tenants in particular with almost 1 in 4 (24%) in the private rented sector admitting to spending over half their income on housing.
Full story available from Property Reporter: http://www.propertyreporter.co.uk/landlords/1-in-4-tenants-spend-over-half-their-income-on-housing.html