Private rents continue to rise

OPEN DOORS: Rental sector prices continuse to rise

OPEN DOORS: Rental sector prices continuse to rise

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Average monthly rents in Preston have risen by eight per cent in the last three years, new figures show.

Private monthly rents in the city have risen from £439 to £474 since 2011.

And in Lancaster rents have risen by 20 per cent in the last three years having gone from £395 up to £473.

It comes a week after the Evening Post reported that no area of central Lancashire is “easily affordable” for homebuyers,

Research shows that in Preston, South Ribble, Chorley, Lancaster, West Lancashire and the Ribble Valley, the average house price is more than 4.5 times the average salary limit.

The latest renting figures come following a new YouGov poll for the National Housing Federation, showed that 72 per cent of parents are worried about rising rent levels and 81 per cent about rising house prices and the impact of both on the next generation.

In the North West, more than one in four (28 per cent) believe it is unlikely their youngsters will be able to afford to rent or buy a home in the area they have grown up in.

Katie Teasdale, external affairs manager for the North West at the National Housing Federation, said: “Parents should look forward to a bright and prosperous future for their children but are worried that they will end up being worse off than them.

“How will our communities survive if young people can’t afford to live there?

“This is the situation we’re facing if we don’t tackle the housing crisis.

“It’s taken a generation to create this broken housing market and will take us a generation to get out of it.”