Rents are less affordable in London, leading to falling rental prices

Rental affordability is at its highest in the North of England for a decade but renting a home is the most unaffordable on London, the latest lettings market research has found. Rents are set to rise with earnings, demand is strongest in the South East and occupancy numbers are often overlooked when considering rental affordability, says the property market analysis report from property portal Zoopla. On average, 30% of net earnings is spent on rent today which is in line with the average over the last decade. It points out that tenants can only afford to allocate a certain proportion of their earnings to rent, so there’s a close relationship between affordability and earnings.

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