Poole 'least affordable for rent'
Thursday 27 October 2011
Poole has beaten London to be named as the UK's least affordable place to rent a room, while Newport in south Wales is the least expensive, when compared with take home pay.
Flat sharing website Easyroommate.co.uk found that across the UK, the typical room rent is £365 per calendar month - 21.9% of the average UK net monthly income of £1,665.
Typical rents in Newport stand at £280, £85 cheaper than the national average and costing just over 18% of take home pay.
Flat sharers in Poole, Dorset, face forking out £398 every month, representing 26.8% of their salaries, while Londoners pay an average of £520, or 26.2% of their net monthly income.
Blackpool in Lancashire came fourth on the "least affordable" towns and cities list, with typical rents standing at £325 - swallowing up a quarter of incomes.
Yorkshire could be considered the cheapest county for tenants, with cities including York, Leeds and Sheffield making the top 10.
Jonathan Moore, director of Easyroommate.co.uk, said: "With the economy's recovery looking sluggish at best, and the ongoing mortgage famine driving growing demand for limited rental space, rent increases will continue to outstrip salary growth for the foreseeable future."
The survey, which used Office for National Statistics data and 15,000 room adverts listed on the Easyroommate website, found that flat share rents are rising at nearly 5% per year.
This compared with annual pay growth of 2.8%, meaning flat sharers face spending 22.9% of their take home wage on rents next year.
Renters could be forced to part with a third of their income by 2020 if current trends continue, the report found.
Here are the 10 most affordable UK rental towns and cities according to Easyroommate.co.uk:
Average monthly net income/ Average flat share rent per calendar month/ Affordability (rent as a percentage of income)
1. Newport £1,539 £280 18.2%
2. Hull £1,373 £255 18.6%
3. Huddersfield £1,600 £300 18.7%
4. Leeds £1,586 £301 19.0%
5. Bolton £1,465 £280 19.1%
6. Sheffield £1,599 £311 19.4%
7. Dundee £1,500 £300 20.0%
8. Coventry £1,518 £305 20.1%
9. Liverpool £1,598 £325 20.3%
10. York £1,617 £330 20.4%
And here are the least affordable:
1. Poole £1,482 £398 26.8%
2. London £1,985 £520 26.2%
3. Norwich £1,554 £395 25.4%
4. Blackpool £1,300 £325 25.0%
5. Gloucester £1,449 £360 24.9%
6. West Bromwich £1,428 £350 24.5%
7. Oxford £1,710 £419 24.5%
8. Brighton £1,737 £420 24.2%
9. Slough £1,671 £400 23.9%
10. Bournemouth £1,552 £370 23.8%
UK average £1,665 £365 21.9%
Life & Style blogs
If I’m being racially abused I don’t need a stranger with a saviour complex to rescue me
The only black face in the Ukip manifesto is on the page about overseas aid
Ukip is the only main political party to not address LGBT rights in its manifesto
Food banks: One million Britons will soon be using them, according to Trussell Trust
Religion isn't growing, it is becoming vigorous in its demise, says philosopher AC Grayling
BBC election debate: The one photo that summed up the whole 90-minute leaders debate
- 1 Kylie Jenner challenge: Bizarre lip suction device inspired by Kardashian sister goes viral
- 2 Rarest Beanie Baby bought for just £10 at car boot sale could be sold for £62,500 on eBay
- 3 Katie Hopkins and The Sun editor are reported to police for incitement to racial hatred following migrant boat column
- 4 Bruce Forsyth backs assisted dying campaign: 'If I had Alzheimer's or dementia I would do something about it'
- 5 Giorgio Armani criticises the way some gay men dress saying 'a man has to be a man'
£14000 - £18000 per annum: Recruitment Genius: An Office Administrator is requ...
£12000 - £40000 per annum: Recruitment Genius: Due to expansion and growth of ...
£40000 - £50000 per annum: Ashdown Group: Senior PHP Developer position with a...
Negotiable: Recruitment Genius: An Operations Leader is required to join a lea...