Rents Now Unaffordable
The housing charity Shelter has conducted a special research about the costs and the prices of renting a property. It has found some peculiar trends and has observed some quite disturbing facts about the current housing policy of private rentals that circulates unofficially within the industry. Amusingly, now not even a Spinal Cord Injury compensation, for people that have undergone an accident due to the negligence of the employer, would be a financial injection strong enough to satisfy the demand for finances in the housing sector for a single person.
The research by the charity was explored fully by BBC. According to the news agency, the rents in London are grossly exceeding the rent prices in other parts of England. The capital city is not only significantly more expensive – it is also quite unattractive to people seeking employment. Many of the people within England aim to find properties either outside London or just seek employment elsewhere because they cannot afford the rental prices in the city. London properties are also growing in terms of prices far more dramatically. As seen on the chart above, the rental prices in London increase with almost double as compared to rents outside the capital.
Additionally, BBC reports that the increase in rent prices forces families to cut down expenses for food, necessities and even deprive themselves from essential services such as internet broadband and TV. The highly disturbing findings of the medium also contribute to another recently discovered trend – many people are leaving London for another place in the UK or simply emigrate from the UK. The percentage of people leaving the UK (mainly for Australia) increases dramatically every year and some of the reasons for emigration of UK citizens are either closely or indirectly related to rent prices. Australia and many other popular destinations among UK citizens offer quite lower housing rates and less tax associated with the new home.
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