Tenants are handing over 65% of their income to rent in the London borough of Brent, that’s according to Jacky Peacock, director of Advice4Renters, who says Brent is one of the least affordable places to rent.
A recent report produced by the Office of National Statistics (ONS) puts Brent the third most expensive borough after Newham and Westminster, of which Westminster is the least affordable place to live with more than 78 per cent of salaries going on rent.
According to The Brent & Kilburn Times the average annual salary for residents in Brent is £31,000, from data released by Brent Council last year.
Jacky Peacock, director of Advice4Renters a company that gives support and legal advice to private tenants, told The Brent & Kilburn Times that the figure was probably higher than that average.
“It’s completely crazy. A lot of people will be finding even more than that out of their take home pay, increasingly people on really low incomes in low paid work relying on housing benefit.
“Their rents are now above the cap for that benefit and they have to find a big amount of their rent just out of the money they are meant to spend on eating and generally surviving.”
“It’s creating a huge amount of hardship for people. People in their 20’s who might not be so poor ought to be able to pay their rent and go out with their friends a few times but they have to cut back on going to the theatre or out for a meal. It’s having a really substantial impact across the whole private rented sector apart from the very rich.
“We are deeply concerned about it. The government want to reduce the housing benefit bill they should be capping the actual rent, not the benefit. We hope with these latest figures they will start to listen now.
Brandon Lewis, Conservative Party Housing Minister, has said:
“We’re determined to create a bigger, better private rented sector that meets the needs of tenants and landlords alike.
“That’s why we’re attracting billions of pounds of investment in the market to build homes specifically for private rent, and have introduced a range of measures to ensure tenants know their rights and responsibilities.
“But we also want to ensure anyone who works hard and wants to own their own home has the opportunity to do so, which is why we’ve introduced schemes like Help to Buy so people can buy with a fraction of the deposit they would normally require.”
Once source claimed that a resident of Brent earning the minimum wage would have to work for 23 hours a day to be able to rent a one-bed flat in some parts of the borough.
Tenants are handing over 65% of their income to rent in the London borough of Brent – http://t.co/A1tBwzkQf9
— LandlordZONE® (@LandlordZONE) August 11, 2015