One in nine renters say they are finding it “very difficult” to afford housing
While the cost of living crisis may be abating, a new YouGov study finds that many Britons are still struggling with their housing costs.
A quarter of Britons with mortgages (24%) still say they are finding it difficult to afford their payments, although this is down from 35% last year.
However, a greater number are concerned that housing will be hard to afford in a year’s time, with three in ten saying so (31%); more than are currently finding it difficult.
When it comes to renters, four in ten (39%) are struggling to pay the rent, down from 55% last year. This includes one in nine (11%) who are finding it “very hard” to afford their rent.
The proportion who think it will be hard to pay in a year’s time does not rise by as much as it does among mortgage-holders, with 42% anticipating challenges affording their rent this time next year.
Two thirds of renters (66%) report that their rent was increased in the past 12 months. Among those who saw cost increases because their landlord put the rent up (rather than other reasons like moving house), the median rent increase has been 10%; when we asked the same question last year rents had increased on average by 9% in the preceding 12 months.
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Photo: Getty
