The economy may be in a double-dip recession, but landlords are pushing through ever-higher rents, according to property website Rightmove. It warned this week of a "rent rise bubble", stretching the limits of affordability.
One in three tenants now spend more than half of their take-home pay on rent, with one in six in London paying 60% of their net income in rent. "This is unique evidence of a rental squeeze that may be leaving some tenants with little, or no, headroom left to pay more," says Rightmove director Miles Shipside.Few are renting because they want to. The report found that 56% of people are "trapped renters" who are forced to pay landlords because they can not access a mortgage.
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