'˜One in seven spend half their wages on rent'

Private sector renters in Preston are paying 37 per cent less than the national average for their tenancy deposits, according to latest figures.

Sunday, 16th July 2017, 1:07 pm
Updated Tuesday, 18th July 2017, 8:41 am

The analysis comes as the Local Government Association (LGA) called for a new wave of affordable rental homes amid concerns some are paying more than half of their total income on rent.

The LGA said more than 40 per cent of private renters spend more than 30 per cent of their income, and 14 per cent spend more than half on their rental fees. The organisation says councils should be given powers and access to funding “to resume their historic role as a major builder of affordable homes”.

Judith Blake, LGA housing spokeswoman, said: “When one in seven private renters are spending half their income on rent, it’s no wonder we have a rental log-jam - with a shortage of homes with genuinely affordable rent, and young people struggling to have enough income left over to save for a deposit.”

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The figures from the Deposit Protection Service (DPS) said deposits in the PR postcode area during the first quarter of 2017 averaged £609, £358 cheaper than the national rate.

A Department for Communities and Local Government (DCLG) spokesman said: “This Government is determined to make housing more affordable and we’re investing £7.1 bn to build more affordable homes. We’ve already helped more than 400,000 households into home ownership through government-backed schemes since 2010.”

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