Generation Rent - The UK Housing Struggle

- Generation Rent - The UK Housing Struggle People With A Mortgage Families With Children Just over one in four people will be in From 2007-2009 the number of “mortgaged home ownership" by 2025 families having to rent private accomodation has soared by 86% People Under 30 More than a third of British households By 2020, 400,000 vulnerable young people could be (36%) will be renting by 2025 unable to afford either to rent or buy accomodation The number of Housing Demand home owners under the age We need around of 30 will fall from 2.4million 232,000 new homes annually to meet demand. to 1.3million, a drop of 46% Only 118,000 homes were completed in 2010-2011 An extra 1.5 million 18-to-30-year-olds will be renting a home In 2013, the average cost of renting a home increased from December 2011 by 4.7% However, the average income of tenants decreased over the The number living with “mum and dad" same period by 0.3% will be 3.7 million London Rent Tenants in London are paying Income of rents that are Tenants 132% Cost Of higher than anywhere in the UK and Renting A Home 223% more than in the North-East. Late Rent/Mortgage Payments The total amount of rent late or unpaid grew to the highest in November 2012, with total arrears of £326 million, up from £241 million in August 2012 This equates to 10.1% In January 2013, an estimated of all rent across England and Wales 7.8 million rent or mortgage payers in Britain were constantly struggling to keep up with their payments Chiltern MoneyPlus The Debt People EXPERTS SINCE 1996 debt management GROUP Sources: http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/9807931/Mortgage-and-re nt-worries-put-real-strain-on-15m.html http://www.rman.co.uk/article_rents-go-up,-while-tenants%27- income-goes-down,-says-homelet-5998.html http://www.dailymail.co.uk/money/mortgageshome/article- 2264385/Rent-arrears-jump-December-Christmas-spending-hits-tenants-pockets.html http://www.guardian.co.uk/society/2012/jun/13/generation-rent-uk-housing-shortage http://www.guardian.co.uk/society/2012/jun/09/renting-price-rise-young-families 1993-1994