The report by Zoopla, which calculated its averages by looking at one- to four-bedroom properties, also found that the average single earner can now expect to spend 34.4% of their income on rent.
The report, which calculated its averages by looking at one- to four-bedroom properties, also found that the average, increasing by 17.8%, a rate which Zoopla described as “simply not sustainable”. Outside the capital, growth was highest in urban areas such as Manchester , Glasgow and Bristol .Cost of living crisis: why single people are facing more financial pressure than ever before
This supply problem seems unlikely to change much in the immediate future while tenants stay put in order to try to avoid the increase in rents and while“What the rental market needs to combat these challenges is more new homes for rent,” Richard Donnell, Zoopla’s executive director of research, said. “Greater regulation has seen less new investment and a small but growing number of landlords selling up, meaning the rental market has stopped growing since 2016.
The lower running costs of a flat compared to a house may be a factor in this shift, the survey suggested, as renters are mindful of the sharp increase in energy bills .Wealthy households could get “twice as much cost of living support” under new plans, a thinktank says
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