Lancashire tenants hit by high rental costs

Key facts: Tenants in Lancashire are paying pay a large chunk of their salaries on rent
Key facts: Tenants in Lancashire are paying pay a large chunk of their salaries on rent
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But Preston fares well as region’s hotspots revealed.

Tenants in Lancashire are spending at least a quarter of their salary on their monthly rent, latest figures show.

Preston tenants are getting a fair deal when average salaries are compared to rent bills.

But the National Housing Federation has revealed that Trafford is now the most unaffordable place in the North West – with rents swallowing up 34 per cent of people’s hard-earned wages.

Other places like Blackpool are not far behind, with renters spending over a third of their salary on rent before they’ve covered any other bills.

Renters in Manchester, South Lakeland and Knowsley are also facing private rents which are over 30 per cent of their income.

This follows official figures showing that private renters now spend twice as much of their income on their housing costs as homeowners do.

The cost of renting from a private landlord is making it increasingly difficult for those trying to save to buy their own home, and for families.

In Trafford the average rent is £802 on an average salary of £28,324. In Preston the figure is £466 on a salary of £20,878; South Ribble £574 on a salary of £24,476; and Chorley £543 on £24,019.

The National Housing Federation is warning that unless the shortage of affordable homes is addressed, rents will continue to rise and more people will see more of their wages eaten up by the cost of renting.

Katie Teasdale, North West external affairs manager at the National Housing Federation, said: “Private renters today are getting a raw deal and are paying the price for a housing crisis that’s been decades in the making.

“Unless we build the affordable homes we desperately need, ordinary working families and young people will continue to struggle to pay their rent, and will have less and less money left to cover basic bills like food and heating,” she added. Preston Council’s cabinet member for planning and regulation, Coun John Swindells, said: “The council is working to deliver more affordable homes to both buy and rent. We work with a range of social housing providers, along with new developers, for a requirement of up to 30 per cent affordable homes.”