Private renters fork out 40% of their income on rent, compared with owner occupiers whose mortgage payments average 20% of income
So says the latest bulletin from the Government’s English Housing Survey.
Most tellingly, the amount renters are paying means the government has to engage in massive subsidising of rents via housing benefit: the average weekly amount received by private tenants was £109 per week, compared with £77 per week for social renters.
As a snapshot of just how difficult it has now become to keep a roof over your head, this is hard to beat. Other headlines:
- In 2012-13, the private rented sector overtook the social rented sector to become the second largest tenure in England
- There were an estimated 22.0 million households in England. Overall, 65% or 14.3 million were owner occupied, 18% (4.0 million) were privately rented and 17% (3.7 million) were socially rented.
- There has been a decline in the proportion of younger mortgagors (aged less than 35), from 21% in 2008-09 to 18% in 2012-13.
- In comparison the percentage of private renters aged 25-34 increase from 31% in 2008-09 to 45% in 2012-13.
- On average, owner occupiers buying with a mortgage spent 20% of their income on their mortgage.
- In comparison, private renters spent 40% and social renters 30% of their income on rent, although both private renters and social renters tended to earn less.
- Just under a third (30%) of all private renters had a household income that exceeded £700 a week compared with 47% of owner occupiers.
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