Debtors burdened by huge demand for rented accommodation

02/09/2011

Those in debt face an added burden in this period of rising inflation as a new poll by the Royal Institution of Chartered Surveyors (Rics) has revealed that the level of demand for rented accommodation is at its highest recorded in the 12 years of the survey.

The poll of Rics members showed that 25 per cent more surveyors saw demand rise in the past quarter than fall whilst 34 per cent of respondents admitted that they had seen rents rise rather than fall.

James Scott-Lee, a spokesperson for Rics, said: “The combination of strong tenant demand and a limited stock of good quality properties on offer is pushing rents ever higher across much of the country.”

The consistently increasing cost of renting means that those in debt may really start to struggle and only those who are debt-free may find funding this increase affordable.

The spokesperson suggested that the trend of increased rent looks set to continue, with mortgage finance remaining difficult for first-time buyers to access.

Tags; Housing Debt and Bills, Current UK Economy, Income Worries and Debt, Young Family Finances,

• Share
• 
• 
• Store
• 
• Follow
•