Private tenants paying more than buyers

People who rent homes privately in the UK are paying more for their properties per month, than those who purchase their homes, as demand in the rental market pushes costs higher. According to a new study, the average rent in the private sector, in the year ending 2016, was £184 per week, compared to £159 per week for mortgage repayments in the same period. Overall, homeowners spend an average of 18% of their income on their house, while renters, on average, spend up to 35% of their earnings on housing.

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