At 28.3%, the proportion of gross income private renters in England and Wales spend on their rent is only marginally higher than five years ago. n the North East and South West, renters spend proportionally less than they did back in 2015/16. The North West is the only region where the proportional increase in spend is more than 1%. Over the past five years, average earnings of renters have risen by 8.8% while average rents have risen by 9.6%. Currently demand for rental properties is high. Average asking rents in Q2 2021 were up 2.6% year-on-year (Rightmove) and a shortage of stock looks set to underpin prices over the coming months.
What's happening with your property value in the current market?
