britains-tenantts-struggling

Large Number of Britains Tenants Struggling

A recent survey carried out by the National Housing Federation has revealed a worrying statistic concerning the plight of many of the UK's tenants. figures show that due to the high cost of living and high rents 31% of tenants have had difficulty buying food in order to pay their rent.

The National Housing Federation which represents housing associations across England has said that increasingly higherrents and the high cost of living has made life much harder for those tenants that are locked out of the home ownership. Increasing house prices and higher deposits have also pushed ip rents as landlords look to take advantage of the demand for rented homes across Britain. The problem is particularly acure across London and the south-east.

The number of tenants in the UK is now at it's highest level for 40 years as high house prices and large deposits required by banks and building societies have made it impossible form many would be homeowners to get on the housing ladder. These would be buyers are being forced to rent and thi is having an affect on the supply of rented homes that are available.

This is not good news for the government who are keen to bring down the cost of housing for working families. The survey was carried out on just over 1,000 tenants, 31% of which had found it very hard to pay the rent at lease once over the last 12 months. The average rent now across Britain now stands at £1100 per month and this is said to be crippling some households.

The government is concerned about the levels of stress and effect this is having on peoples health with 31% of tenants sayimg that they were very worried that they would not be able to meet future payments and 15% of those questioned saying that they were kept awake at night worrying about losing their home. Many of these families are just keeping their heads above water and are very close to going under.

There are many calls for the government to come up with a bold long-term plan to deal with the housing crisis and help families to find the homes they need at affordable levels. Stats released by the Department for Communities and Local Government showed that 43,000 new affordable homes were built in the 12 months leading up to March 2014. This is the lowest number in almost a decade.

The government is keen to oint out that it is doing what it can with the announcement of its latest plan to help buyers with the new "Starter Home Initiative" where they will be reducing the cost of a new starter home to first time buyers by 20%. first time buyers will be given the opportunity to buy a home at 80% of its market value with help from the government.

The scheme is designed to help buyers under the age of 40 to purchase their first home. They have certainly done their but to stoke up demand for new homes but they need to do more to build new homes as it would sem that they are still way off of meeting the demand from social tenants and private homeowners.