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TODAY'S OTHER NEWS

Does paying 50% of salary in rent really make an area affordable?

A PropTech platform claims that an area where the average rent is 50 per cent of less of an average salary is automatically “affordable”.

The claim, by lettings management platform Howsy, says that almost two thirds of Britain is therefore affordable to renters - even those areas where tenants have to fork out literally half of their income.

Howsy’s claim is based on looking at the average cost of private renting in each local authority in England, Scotland and Wales; it then compared this with the average salary of 22 to 29 year olds. 

The analysis makes no reference at all to claimants or older renters. 

It goes on to claim that the two most affordable locations are Rhondda Cynon Taf and Blaenau Gwent in Wales, where 28 per cent of income is required to cover rent.

At 30 per cent Burnley is the most affordable market for young renters in England while in Scotland, Dumfries and Galloway is the most affordable at 31 per cent.

Barnsley is the most affordable in the Yorkshire and the Humber region at 32 per cent, the same figure as for Bolsover which ranks as the best option in the East Midlands. 

South Tyneside is top in the North East (33 Pete cent) while Waveney is the most affordable in the East of England (34 per cent) with Staffordshire Moorlands the most affordable in the West Midlands (35 per cent).

Folkestone and Hythe is the South East’s most affordable rental market with Torridge in the South West - both on 40 per cent.

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