According to Countrywide’s Monthly Lettings Index for May, the average cost of renting a one-bedroom home in Great Britain accounts for 48% of the post-tax income of an average young full-time worker. This compares to 45% in 2007. Rents have increased 27% since 2007 outpacing a 16% growth in incomes.
Christmas is now a distant memory and we are well into a New Year. With a clean sheet and so much to look forward to, now is a great time of year to re-evaluate your household spending.