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Enfield rents outdoing income growth

Enfield rents outdoing income growth
10.08.2018
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ACCORDING to recent announcements, rental properties in Enfield have become costly, as rental costs have increased and outpaced household income boost.

Outcomes from Shelter outline that rental costs within England have increased incredibly in comparison to household incomes since 2011.

Alongside the housing charity urging on the Government to construct additional homes for reasonable prices also to meet the increasing requirement for affordable rents.

The average rental cost of a two-bedroom home in Enfield has boosted from 24.6% between 2011 and 2017, outdoing the growth in household income, by which increased by just 0.9%.

During the 2017-2018 financial year, the regular monthly rent of a two-bedroom home in Enfield cost £1303.

The phrase ‘rentquake’ has been generally perceived as a London concern, has lately begun to expand outside of the capital.

Shelter has urged on the Government to formulate a new plan for social housing, to enable that people with low-income jobs can find affordable houses to rent hence, to lessen the competition in the private rent sector.

The campaign director of Shelter, Greg Beales has stated: “With this surge in private renters the housing market has shifted massively and yet as a country we’ve failed to respond.  This has resulted in consecutive governments focusing on better-off homeowners while not doing enough for hard-pressed renters.”

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