People are being asked to pay an extra £100 a month on average
With rent prices rising 9% over the last 12 months, three in ten renters across the UK have been forced to turn to benefits due to rising costs, according to new research from lender Creditspring. ONS figures show that average rents increased by 8.9% over the last 12 months, with tenants paying over £100 more per month on average than last year.
Four in ten renters say this is the most financially unstable they’ve ever been. 13% of renters say they will have to move back in with parents as they can’t afford to live independently, this rises sharply to a quarter of younger renters aged 18-34.
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