Lack of housing supply causing rents to increase

It’s not just buyers that are having to put up with increase in house prices, tenants have seen an increase of 11% this year and there is no sign that this will change any time soon. The simple truth is that there are too many tenant chasing too few properties across Britain.

The increase comes as there are a huge number of buyers looking to take advantage of the Help TO Buy scheme that is still being offered to homeowners. Another important statistic is that rents across Britain now account for 41% of people’s monthly income.

This comes at a time when incomes are being squeezed and tenants are struggling to make ends meet. There has been no let up in demand for rented accommodation and it is difficult to see how the situation is going to change.