Monday, 21 April 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

Have your say

You must sign in to make a comment

sign in register

Newsletter Sign-up

More Newsletters

Related

Articles

  • Major flaws revealed in pay-to-stay policy

    09/08/2013

    The government’s pay-to-stay policy will not work in parts of 16 local authority areas across London because tenants will have to earn more than the £60,000 cap to be able to pay affordable rents.

  • London rents more than twice national average

    26 February 2014

    The average London rent is now 102 per cent more than the national average, according to analysis released today.

  • History repeating

    26/04/2013

    The impact of welfare reform on social housing tenants will depend on where they live. Keith Cooper investigates if the localisation of the welfare system marks a return to the 19th century poor law

  • House prices rise in June

    1 July 2013

    House prices rose in more areas of the country in June than any other month for six years, figures published today reveal. 

  • Property transactions down and rents up in February

    21 March 2014

    The number of residential property transactions in the UK were the lowest they have been since April 2013 in February, government statistics reveal today.

Resources

  • The prefab way

    28/02/2014

    Hammersmith & Fulham Council is erecting pre-fabricated homes and Brighton has turned to shipping containers, Lydia Stockdale reports

  • Getting connected

    10/01/2014

    Student@Home has discovered the mutual benefits of one-to-one IT training for social tenants. Kate Youde investigates

  • Fighting back

    01//11/2013

    As the private rented sector continues to grow, so does the number of problematic landlords. Michael Pooler finds out how tenants are taking matters into their own hands to fight for better conditions

  • A bright idea

    22/11/2013

    Why has a Sunderland-based social landlord set up a charity providing solar powered lamps to communities in Africa? Martin Hilditch finds out

  • Make yourself at home

    28/06/2013

    A midlands-based landlord is offering tenants a chance to get a foot on the housing ladder and acquire work skills by building their own homes, as Helen Clifton finds out