One factor when deciding where to live is how affordable the area is. London ranks among the highest rent rates in the entire world. If you want to move to an area with more affordable rents, consider moving to the eastern part of the country. Bexley and Barking were two areas with the lowest rent rates. Across England and Wales as a whole, the percentage of take home pay that is spent on rent has decreased over the last year.
Key Takeaways:
- The amount of take home income Londoners spend on rent has been estimated to be as high as 89%.
- Bexley and Barking & Dagenham were identified by Money Supermarket as the most affordable boroughs.
- In the north-east, only 23.6% of wages is spent on rent.
“That BBC/Hometrack survey discovered the percentage of wages spent on renting since 2007 had actually decreased across England and Wales as a whole, from 31.1% to 29.4%.”
Read more: https://www.theguardian.com/lifeandstyle/2018/jul/14/where-to-move-for-affordable-rents
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