Rent costs full-time workers every penny earned until May

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    The median annual rent for a two-bed property in England last year was £7,800, up from £6,600 in 2011.
    The median annual rent for a two-bed property in England last year was £7,800, up from £6,600 in 2011.

    A year’s rent takes up every penny earned by full-time workers until the first week of May, analysis by BBC News reveals.

    The median annual rent for a two-bed property in England last year was £7,800, up from £6,600 in 2011.
    The median annual rent for a two-bed property in England last year was £7,800, up from £6,600 in 2011.

    A middle income earner in England would work 86 days to rent a average two-bedroom home, five more than in 2011.

    In Scotland and Wales the number of working days needed to cover their rent fell to 79 and 71 days respectively.

    The Residential Landlords Association said property owners were not making “a fortune” out of tenants.

    Rising property prices have made it harder for millions of people to buy a home and the number of households renting privately has reached a 30-year high, according to the English Housing Survey.

    ‘We could get a place twice as big’

    Rebeca Corona and Fernando Garcia said friends had told them renting in England could be very expensive
    Rebeca Corona and Fernando Garcia said friends had told them renting in England could be very expensive

    New high-tech and engineering jobs have drawn skilled workers to places like Cambridge.

    Rising demand and limited supply have pushed rents up.

    Rebeca Corona, 30, and partner Fernando Garcia, 31, have been renting in the city for about two months, having moved from Madrid.

    “We knew before we got here that prices in England were high,” said Mr Garcia.

    “But we hadn’t anticipated how quickly properties were let out and how small they are in comparison to Madrid.”

    Ms Corona added: “I love living in Cambridge, because I can be at work in less than half an hour.

    “But we currently pay for £1,250 a month for a two-bed property in Cambridge and for the same price in Madrid we could get a property that would be twice as big.”

    Figures compiled by Eurostat show that in 2017 Madrid was one of the cheapest major global cities to rent in, with average rents for two-bed properties half those in London.

    source : http://www.bbc.com/news/uk-england-43881389

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