Wednesday, October 19, 2011
Well, I for one welcome our new overlords.
Property rental costs are at their highest level ever and now account for nearly half of the average British family's monthly earnings, according to figures published today. The average rent has risen to Â£890 a month â€“ 46 per cent of the typical tenant's net income. In London, rent accounts for more than three-quarters of average earnings. Landlords in the capital charge an average of Â£2,075 per month, while the typical household brings in Â£2,721 in net monthly income.