Sunday, 21 December 2014

Tenants need £23k salary

Tenants will have to earn an average salary of £23,100 to meet the government’s new ‘affordable’ rent, research by Hometrack has revealed.

The consultancy also found huge variations in the average income tenants will need to afford a home under the new regime - from £44,500 in London to £16,000 in the north east.

Average income required for affordable rent

REGION INCOME
London £44,500
South east £26,500
East £23,100
South west £21,100
West midlands £18,000
East midlands £17,000
Yorkshire / Humber £16,800
North west £16,800
North east £16,000

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