According to research released yesterday by Shelter, 55% of local authorities now have unaffordable private rents, but all is not lost…
Shelter reported that 2 bed homes in these areas cost more than 35% of median average local take-home pay. This calculation was based on a one person income per household – the UK average of which is £26,268.
Shelter found that the average monthly rent for a two-bedroom home in London is £1,360. In Oxford (the least affordable area outside of London) it is around £950, and in Blackpool (the least affordable area in the North of England) it is around £550.
These findings demonstrate the demand/supply dependencies of today’s private rental sector, and the increasing popularity of renting. Although the statistics could worry renters, tenants need to be aware of the benefits of shopping around and being flexible on location and propety type.
Although no one is doubting that rents are rising, there are still many affordable properties available. Working with a good letting agent will help you find the most suitable property at the best price.
Below is a selection of competitively priced rental properties in the least affordable areas….
|This stylish 2 bed flat in Blackpool is available to rent for a very reasonable £525 per month.|
|Oxford is a highly desirable area and rents reflect this, but this 2 bed rental house is available for just £795 PCM.|
|We all know London is expensive but there are bargains to be had in up-and- coming areas. This refurbished 2 bed appartment near Kings College Hospital in zone 2 is available to rent for £1,100 per month.|