{"id":4248,"date":"2018-11-11T07:40:42","date_gmt":"2018-11-11T07:40:42","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/the-cost-of-renting-in-the-uk-in-seven-charts\/"},"modified":"2018-11-11T07:40:42","modified_gmt":"2018-11-11T07:40:42","slug":"the-cost-of-renting-in-the-uk-in-seven-charts","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/the-cost-of-renting-in-the-uk-in-seven-charts\/","title":{"rendered":"The cost of renting in the UK in seven charts"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Renting in charts\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/1623C\/production\/_104248609_index.jpg\" width=\"976\" height=\"549\"\/><\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">As the number of people renting in the UK continues to rise, the BBC has taken a closer look at the state of private renting. <\/p>\n<p>The typical one-bed home in England costs \u00a3600 a month to rent, but this is skewed by soaring costs in London and hides a gaping divide across the country. <\/p>\n<p>In parts of Westminster, the average one-bed costs more than \u00a33,500 per month. In Argyll and Bute, that sum could cover your rent for a whole year.  <\/p>\n<h2 class=\"story-body__crosshead\">1. More rooms? Move city<\/h2>\n<p><img decoding=\"async\" src=\"https:\/\/news.files.bbci.co.uk\/include\/newsspec\/22105\/assets\/app-project-assets\/Rentgif2.gif\" alt=\"Animation showing how much you can get for \u00a3767 in different parts of the UK\"\/><\/p>\n<p>Let&#8217;s say you lived in a three-person house-share in SW4, Brixton, London. According to Hometrack, you could expect to pay around \u00a3767 per month, along with your two flatmates.<\/p>\n<p>With that money, you could comfortably rent a one-bedroom flat in Southend or Milton Keynes &#8211; both within commuting distance of the capital &#8211; all to yourself. In fact, you&#8217;d be able to rent a one-bedroom flat in 79% of British postcodes, including locations such as Bristol.<\/p>\n<ul class=\"story-body__unordered-list\">\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.co.uk\/news\/business-45559456\" class=\"story-body__link\">Two-thirds of rental market &#8216;unaffordable&#8217; for young people<\/a><\/li>\n<li class=\"story-body__list-item\"><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46071726\" class=\"story-body__link\">Is renting cheaper in the next beighnourhood?<\/a><\/li>\n<\/ul>\n<p>If you wanted a bit more space, you could get a two-bedroom home in 65% of Britain&#8217;s postcodes for \u00a3767 or less. You could live in L1, in the heart of Liverpool, where rents for a two-bed property are around \u00a3751.  <\/p>\n<p>For the same rent or less, you could also get a three-bedroom property in Leeds (LS8) with money to spare. Or, if Leeds isn&#8217;t for you, around 50% of all British postcode areas have an average price of \u00a3767 or lower for a three-bed.<\/p>\n<p>If you&#8217;re in particular need of space, for the same price as a room in a Brixton flat-share, you can rent an entire four-bed property to yourself in 410 postcode districts across the country &#8211; including in cities such as Birmingham, Newcastle and Swansea and Glasgow. <\/p>\n<h2 class=\"story-body__crosshead\">2. Who&#8217;s renting?<\/h2>\n<p>Private renting has more than doubled over the past 20 years, and young people are by far the most likely age group to be renting.<\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p>During the same period, <a href=\"https:\/\/www.bbc.co.uk\/news\/business-43075099\" class=\"story-body__link\">home ownership among young adults has collapsed<\/a>. <\/p>\n<p>In 1995-96, some 65% of middle-income 25 to 34-year-olds owned a home. Twenty years on just 27% do, with the biggest drop in London and south-east England. <\/p>\n<h2 class=\"story-body__crosshead\">3. Renters pay a premium for isolation<\/h2>\n<p>Renting a one-bedroom flat in England costs \u00a3600, yet buddy up with someone, and your share drops to \u00a3325. <\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p>Find two flatmates, and you can get away with paying just \u00a3250 for a room in a three-bed home &#8211; less than half the cost of a one-bed flat.<\/p>\n<p>This will be no mystery to renters in cities such as London, where for many young people, flat-sharing is the only option.<\/p>\n<p>In the capital, the average one-bed costs \u00a31,237, but a third of a three-bed property costs \u00a3582 on average, saving you more than \u00a3650 each month.<\/p>\n<h2 class=\"story-body__crosshead\">4. Four regions are &#8216;unaffordable&#8217;<\/h2>\n<p>Working out what proportion rent makes up of your salary is a good measure of how affordable it is. Housing organisations recommend spending no more than 30% of your income on housing costs. <\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p>While Londoners earn more than residents of other regions, the city&#8217;s rental properties still make up a bigger chunk of residents&#8217; salaries than renters in other areas.<\/p>\n<p>For example, renting just a one-bed flat in the capital eats up nearly half of the average salary.<\/p>\n<h2 class=\"story-body__crosshead\">Compare rent affordability in your area with Britain as a whole<\/h2>\n<link rel=\"stylesheet\" href=\"https:\/\/news.files.bbci.co.uk\/include\/newsspec\/20367-affordable-rent\/assets\/embed\/css\/inline.css\"\/>\n<div id=\"responsive-embed-newsspec-20367-affordable-rent-app\" class=\"bbc-news-vj-embed-wrapper\">\n<div id=\"responsive-embed-newsspec-20367-affordable-rent-app-core-content\">\n<div class=\"core-content\">\n            <img decoding=\"async\" src=\"https:\/\/news.files.bbci.co.uk\/include\/newsspec\/20367-affordable-rent\/assets\/app-project-assets\/img\/fallback.jpg\" alt=\"\" style=\"max-width: 300px\"\/><\/p>\n<p>Housing organisations recommend spending no more than 30% of your salary on rent. The average rent of a 1-bedroom home exceeds this for twenty-somethings in two-thirds of Britain.<\/p>\n<\/p><\/div>\n<div class=\"main-content\" style=\"display:none;\">\n<form id=\"data-select\" class=\"data-select\">\n<fieldset id=\"data-select-search\" class=\"data-select-search\"><label class=\"data-select-search-label\" for=\"data-select-search-input\">Enter first half of postcode<\/label><\/p>\n<\/fieldset>\n<p><!--\n             --><\/p>\n<fieldset id=\"data-select-age\" class=\"data-select-age\"><label class=\"data-select-age-label\" for=\"data-select-age-dropdown\">Select age range<\/label><\/p>\n<p>\n                        <select name=\"data-select-age-dropdown\" id=\"data-select-age-dropdown\" class=\"data-select-age-dropdown\" data-key=\"age\"><option value=\"22-29\" selected=\"selected\">22-29<\/option><option value=\"all\">All ages<\/option><\/select><\/p>\n<\/fieldset>\n<p><!--\n             --><\/p>\n<fieldset id=\"data-select-beds\" class=\"data-select-beds\"><label class=\"data-select-beds-label\" for=\"data-select-beds-dropdown\">Select number of bedrooms<\/label><\/p>\n<p>\n                        <select name=\"data-select-beds-dropdown\" id=\"data-select-beds-dropdown\" class=\"data-select-beds-dropdown\" data-key=\"beds\"><option value=\"1\">1 bed<\/option><option value=\"2\">2 beds<\/option><option value=\"3\">3 beds<\/option><option value=\"4\">4 beds<\/option><\/select><\/p>\n<\/fieldset>\n<p><input type=\"submit\" value=\"Submit\" class=\"sr-only\"\/><\/form>\n<div id=\"map-container\" class=\"map-container\" tabindex=\"1\">\n                <button id=\"map-button-reset\" class=\"map-buttons map-button-reset\">Reset map<\/button><br \/>\n                <button id=\"map-button-zoom-in\" class=\"map-buttons map-button-zoom-in\">+<\/button><br \/>\n                <button id=\"map-button-zoom-out\" class=\"map-buttons map-button-zoom-out\">&#8211;<\/button><\/p>\n<div class=\"map-legend-container\">\n                    <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" width=\"100%\" viewbox=\"0 0 355 47\" version=\"1.1\" class=\"map-legend\"><title>map-legend<\/title><g id=\"map-legend\" stroke=\"none\" stroke-width=\"1\" fill=\"none\"><g id=\"map-legend-border\"><rect fill=\"#FFFFFF\" stroke=\"#D7D7D7\" stroke-width=\"1\" x=\"0.5\" y=\"0.5\" width=\"354\" height=\"46\"\/><\/g><text class=\"map-legend-label-no-data\" fill=\"#222222\"><tspan x=\"290\" y=\"21\">No data<\/tspan><\/text><text fill=\"#222222\"><tspan x=\"20\" y=\"21\">%<\/tspan><\/text><g class=\"map-legend-bars\" transform=\"translate(23.000000, 28.000000)\"><g id=\"bar-no-data\"><polygon fill-opacity=\"0.7\" fill=\"#BABABA\" points=\"274 0 317.75 0 317.75 5.0625 317.75 10 274 10\"\/><\/g><g id=\"bar-0-29\"><rect fill-opacity=\"0.7\" fill=\"#FFEED2\" x=\"0.708333333\" y=\"0\" width=\"43.75\" height=\"10\"\/><\/g><g id=\"30-39\"><rect fill-opacity=\"0.75\" fill=\"#FFDA64\" x=\"43.4166667\" y=\"0\" width=\"43.75\" height=\"10\"\/><\/g><g id=\"40-49\"><rect fill-opacity=\"0.7\" fill=\"#FAAB18\" x=\"86.125\" y=\"0\" width=\"43.75\" height=\"10\"\/><\/g><g id=\"50-74\"><rect fill-opacity=\"0.7\" fill=\"#D46666\" x=\"128.833333\" y=\"0\" width=\"43.75\" height=\"10\"\/><\/g><g id=\"75-99\"><rect fill-opacity=\"0.7\" fill=\"#990000\" x=\"171.541667\" y=\"0\" width=\"43.75\" height=\"10\"\/><\/g><g id=\"100-or-more\"><rect fill-opacity=\"0.85\" fill=\"#5B0101\" x=\"214.25\" y=\"0\" width=\"43.75\" height=\"10\"\/><\/g><\/g><g class=\"map-legend-30-marker\" transform=\"translate(55.000000, 5.000000)\"><text class=\"map-legend-30-marker-text\" fill=\"#222222\"><tspan x=\"0\" y=\"15\">30<\/tspan><\/text><path d=\"M10.5,17.5 L10.5,34.5\" stroke=\"#222222\" stroke-linecap=\"square\" stroke-dasharray=\"3\"\/><\/g><g transform=\"translate(99.000000, 5.000000)\"><text fill=\"#222222\"><tspan x=\"0\" y=\"15\">40<\/tspan><\/text><path d=\"M10.5,17.5 L10.5,34.5\" stroke=\"#222222\" stroke-linecap=\"square\" stroke-dasharray=\"3\"\/><\/g><g transform=\"translate(185.000000, 5.000000)\"><text fill=\"#222222\"><tspan x=\"0\" y=\"15\">75<\/tspan><\/text><path d=\"M10.5,17.5 L10.5,34.5\" stroke=\"#222222\" stroke-linecap=\"square\" stroke-dasharray=\"3\"\/><\/g><g transform=\"translate(142.000000, 5.000000)\"><text fill=\"#222222\"><tspan x=\"0\" y=\"15\">50<\/tspan><\/text><path d=\"M10.5,17.5 L10.5,34.5\" stroke=\"#222222\" stroke-linecap=\"square\" stroke-dasharray=\"3\"\/><\/g><g transform=\"translate(222.000000, 5.000000)\"><text fill=\"#222222\"><tspan x=\"0\" y=\"15\">100+<\/tspan><\/text><path d=\"M15.5,17.5 L15.5,34.5\" stroke=\"#222222\" stroke-linecap=\"square\" stroke-dasharray=\"3\"\/><\/g><\/g><\/svg><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p><i>Contains OS data \u00a9 Crown copyright and database rights 2018. Insufficient data is available for Northern Ireland.<\/i><\/p>\n<h2 class=\"story-body__crosshead\">5. Cambridgeshire rents rising the most<\/h2>\n<p>It will come as no surprise to anyone that London&#8217;s rental market is the priciest. But rents have actually risen by more elsewhere in the country.<\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p>The median rent for a one-bedroom flat in the East of England rose from \u00a3495 in 2012-13, to \u00a3650 in 2017-18, according to official figures. That&#8217;s an increase of almost a third. <\/p>\n<p>In particular, rents in Cambridgeshire rose by two-thirds in that period, from \u00a3450 to \u00a3750 a month. Other big increases were found in Barking and Dagenham, Bristol, and Greenwich, where prices rose 40% or more.<\/p>\n<p>We don&#8217;t have local authority data for the other nations, but we do know that across England, there were only eight local authorities where one-bed rents fell. Three were in the North West, four in the North East, and, perhaps surprisingly, Kensington and Chelsea in London.<\/p>\n<h2 class=\"story-body__crosshead\">6. London has huge rent inequality<\/h2>\n<p>Even within large cities, you might still find rents that are less eye-watering if you look in the right place. <\/p>\n<p>The data reveals the importance of location in determining how high your rent is likely to be.<\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p>The cheapest corner of London&#8217;s postcode area (SE2, in Greenwich) is more expensive than the priciest areas of most of the country&#8217;s major cities. However, the number of areas with extremely expensive rents means that it still has the biggest price gap.<\/p>\n<p>To rent a one-bed flat in three London postcodes &#8211; SW1X, W1J and EC2R &#8211; you&#8217;d need to fork out more than \u00a33,000 every month.<\/p>\n<p>But there are still three London postcodes &#8211; SE2, SE28, SE9 &#8211; where you can rent a one-bed for less than \u00a31,000. <\/p>\n<link rel=\"stylesheet\" href=\"\/\/news.files.bbci.co.uk\/include\/newsspec\/20692-rent-calculator2\/assets\/embed\/css\/inline.css\"\/>\n<div id=\"responsive-embed-newsspec-20692-rent-calculator-app\" class=\"bbc-news-vj-embed-wrapper\">\n<div id=\"responsive-embed-newsspec-20692-rent-calculator-app-core-content\">\n<div class=\"core-content\" style=\"text-align: center;min-height: 1px;\">\n            <img decoding=\"async\" src=\"http:\/\/news.files.bbci.co.uk\/include\/newsspec\/20692-rent-calculator2\/assets\/app-project-assets\/img\/core-content-v1.png\" width=\"100%\" alt=\"Chart showing rent in Londons priciest postcodes versus the cheapest postcodes.\" style=\"padding-top: 1em; max-width: 648px; margin: 0 auto;\" aria-hidden=\"true\"\/><\/p>\n<p>Chart showing rent in Londons priciest postcodes versus the cheapest postcodes.<\/p>\n<\/p><\/div>\n<div class=\"main-content\" style=\"display:none;\">\n<div id=\"map-container\" class=\"map-container\">\n<div class=\"map-overlay\">\n<h3 aria-hidden=\"true\">\n                        <span class=\"map-overlay-heading-section\">Search for an area above<\/span><br \/>\n                        <span class=\"map-overlay-heading-section\">or<\/span><br \/>\n                        <span class=\"map-overlay-heading-section\">Select one below to explore map<\/span><br \/>\n                    <\/h3>\n<ul class=\"map-form-buttons-group map-overlay-buttons-group\" aria-labelledby=\"map-overlay-buttons-header\" role=\"menu\">\n<li><button class=\"map-form-button map-overlay-button\" data-gssid=\"E08000025\" role=\"menuItem\">Birmingham<\/button><\/li>\n<p><!--\n                         --><\/p>\n<li><button class=\"map-form-button map-overlay-button\" data-gssid=\"W06000015\" role=\"menuItem\">Cardiff<\/button><\/li>\n<p><!--\n                         --><\/p>\n<li><button class=\"map-form-button map-overlay-button\" data-gssid=\"S12000046\" role=\"menuItem\">Glasgow<\/button><\/li>\n<p><!--\n                         --><\/p>\n<li><button class=\"map-form-button map-overlay-button\" data-gssid=\"London\" role=\"menuItem\">London<\/button><\/li>\n<p><!--\n                         --><\/p>\n<li><button class=\"map-form-button map-overlay-button\" data-gssid=\"E08000035\" role=\"menuItem\">Leeds<\/button><\/li>\n<p><!--\n                         --><\/p>\n<li><button class=\"map-form-button map-overlay-button\" data-gssid=\"E08000003\" role=\"menuItem\">Manchester<\/button><\/li>\n<\/ul>\n<\/div>\n<p>                <a id=\"map-skip-link\" class=\"hide skip-link map-skip-link off-screen\" href=\"#map-infobar\">Full results for this area<\/a><\/p>\n<h3 class=\"off-screen\">Interactive map<\/h3>\n<p>                <button id=\"map-button-zoom-in\" class=\"map-buttons map-button-zoom-in\"><br \/>\n                    <span class=\"off-screen\">Zoom map in<\/span><br \/>\n                    <span role=\"presentation\" aria-hidden=\"true\">+<\/span><br \/>\n                <\/button><br \/>\n                <button id=\"map-button-zoom-out\" class=\"map-buttons map-button-zoom-out\"><br \/>\n                    <span class=\"off-screen\">Zoom map out<\/span><br \/>\n                    <span role=\"presentation\" aria-hidden=\"true\">&#8211;<\/span><br \/>\n                <\/button><br \/>\n                <svg class=\"map-key\" width=\"120px\" height=\"28px\" viewbox=\"0 0 120 28\" version=\"1.1\" aria-hidden=\"true\"><g stroke=\"none\" stroke-width=\"1\" fill=\"none\" fill-rule=\"evenodd\"><g id=\"map-key-border\" fill=\"#FFFFFF\"><rect stroke=\"#D7D7D7\" fill=\"#FFFFFF\" stroke-width=\"1\" x=\"0.5\" y=\"0.5\" width=\"119\" height=\"27\"\/><\/g><text id=\"map-key-label\" fill=\"#040404\"><tspan x=\"7\" y=\"19\">No data<\/tspan><\/text><g id=\"color-no-data\" fill-opacity=\"0.75\" fill=\"#BABABA\"><polygon points=\"74 10 108 10 108 15.0625 108 20 74 20\"\/><\/g><\/g><\/svg><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p><i>Contains OS data \u00a9 Crown copyright and database rights 2018. Insufficient data is available for Northern Ireland.<\/i><\/p>\n<h2 class=\"story-body__crosshead\">7. What about shared ownership?<\/h2>\n<p>Shared ownership lets residents part-buy, part-rent a property. This means they&#8217;d pay a rent, service charge, and a mortgage on the bit they own (which usually ranges from 35% to 75%).<\/p>\n<p>These costs add up, but not &#8211; as it turns out &#8211; more than renting. <\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p>We looked at the total costs of all the shared ownership listings within a five-mile radius of central London, and matched them up to the equivalent rent for that postcode.<\/p>\n<p>Two-thirds of the shared ownership properties were actually cheaper than renting in that area.<\/p>\n<p>But don&#8217;t get excited that shared ownership is affordable in London &#8211; the average shared ownership home listed still takes up almost 70% of young Londoners&#8217; incomes.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-46072509\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the number of people renting in the UK continues to rise, the BBC has taken a closer look at the state of private renting. The typical one-bed home in England costs \u00a3600 a month to rent, but this is skewed by soaring costs in London and hides a gaping divide across the country. In &hellip; <\/p>\n","protected":false},"author":0,"featured_media":4249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=4248"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4248\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/4249"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=4248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=4248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=4248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}