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Low-income tenants battle soaring rents

From BBC - October 12, 2017

Low-income tenants are now spending an average of 28% of their wages on rent, up from 21% in the mid-1990s, new research indicates.

They have been hit by substantial cuts to housing benefit, with government support expected to fall "further and further behind" the cost of housing, says the Institute for Fiscal Studies.

Over the same period of time, the proportion of people renting homes privately has increased from 8% to 19%.

Average private rents have gone up 33%.

"Renters are paying considerably more for their homes than 20 years ago," says the IFS analysis, funded by the Joseph Rowntree Foundation.

"In real terms, the median private rent paid in London was 53% higher in the mid-2010s than in the mid-1990s, while in the rest of the country, it was 29% higher. Those rises mainly occurred in the late 1990s and early 2000s (in London) or the early and mid-2000s (elsewhere).

"Meanwhile, social housing rents have been consistently growing in real terms since the mid-1990s."

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