Rents are still going up, but fairly slowly at between 0.5% and 1.5% over the year to October 2017, depending on which rental index you choose.
But despite this, affordability remains an issue for many tenants. Almost one in four private tenants (24% excluding ‘don’t knows’) admit to spending more than half of their income on rent, according to a survey by TheHouseShop.com.
Around one in six private renters said they are currently spending over 60% of their monthly income on housing
The online agent found that mortgaged homeowners are in a stronger financial position than tenants, with 15% of homeowners with mortgages spending more than half their incomes on housing, compared to the 24% of private renters.
