Blog Post

Rental affordability

Gill - Head Gillian Bell Oct 21, 2023, 13:00 PM

Although earnings in the south of England are generally higher than in other parts of the country, anyone needing to rent a home, will have to give up a higher proportion of their income just to cover the rent.

‘Rental affordability’ is a good indicator of the pressure in any local rental market. It is calculated by taking average rent as a proportion of average earnings in an area – in this case Local Authorities.

The situation is most acute in London. A Londoner on an average London salary would have to allocate more than 40% of their earnings to cover the average rent, while in much of the rest of the country the equivalent is between 20% and 30%.

Of course, if the earnings are higher, that may still leave more money left over for other expenses and fortunately for many, whilst rent has increased, salaries have too.

Surprisingly, there are still areas of the home counties where only 20–30% of incomes are spent on rent such as East and North Hertfordshire, Dover and Folkestone. Source: #Dataloft Rental Market Analytics, Information Works, Land Registry

Load more comments
Thank you for the comment! Your comment must be approved first
comment-avatar

"Abbey was lovely, really helpful and informative, thank you!"

- Lisa

"Abbey was a fantastic help"

- Olivia

"Any issues Peter Anthony have been spot on and Sean as been professional and helpful at all times"

- Ian

"Positives: Quick sale"

- Andy

"Both very Knowledgeable about the all properties I was inquiring about"

- Joanne

"Abbey Bird at Peter Antony Estate agents has been and still is amazing"

- Sky

"We are very grateful for everything and wholeheartedly recommend Peter Anthony to anyone looking for outstanding property management services."

- Aman

"Gill and Abbey were quick and efficient to get my place sorted"

- Charlene