The problem of rising rents 5 Minutes On
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- Daily News
Four out of 10 under-30s are spending more than 30% of their income on rent - an amount deemed "unaffordable" by housing experts. Figures collected by the property market consultancy, Dataloft - and analysed by the BBC - show that's a five year high. What's more, while are increasing, wages are stagnant.
For 5 Minutes On, the BBC's Consumer Affairs correspondent, Colletta Smith, talks to a gym instructor from Salford who's taken on a second job to cope - and a couple from London who've had to come up with a creative solution. They've become property guardians - they pay a management company a monthly fee to live in an otherwise unused building. It's much cheaper than renting. "It means that we can save", they say, "and it allows us to live a bit more".
Image Credit Johnny Greig via Getty Images
Four out of 10 under-30s are spending more than 30% of their income on rent - an amount deemed "unaffordable" by housing experts. Figures collected by the property market consultancy, Dataloft - and analysed by the BBC - show that's a five year high. What's more, while are increasing, wages are stagnant.
For 5 Minutes On, the BBC's Consumer Affairs correspondent, Colletta Smith, talks to a gym instructor from Salford who's taken on a second job to cope - and a couple from London who've had to come up with a creative solution. They've become property guardians - they pay a management company a monthly fee to live in an otherwise unused building. It's much cheaper than renting. "It means that we can save", they say, "and it allows us to live a bit more".
Image Credit Johnny Greig via Getty Images