Typical tenant pays £40,000 in rent over five years, report finds
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Research by Shelter highlights high cost of renting as Lords debates bill that charity claims will exacerbate housing shortage.
By Heather Stewart
The typical tenant in England has spent more than £40,000 on rent over the past five years, according to new research published on Thursday by homelessness charity Shelter, in time for the housing bill debate on the same day in the House of Lords.
Shelter says that the average cost of renting a two-bedroom home is enough to put down a 20% deposit on the average first-time buyer home. In London, the average rent for a two-bedroom property has been far higher, at £89,000, the charity calculated.
Campbell Robb, Shelter’s chief executive, said: “Our drastic shortage of affordable homes is leaving millions of people stuck in their childhood bedrooms in a bid to save money, or in expensive and unstable private renting with little hope of ever saving for a home to put down roots in.”
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