Tenants are most likely to be young people and have seen rents rise 5.1% in the year up to June as almost one in three tenant households spend more than half their income on rent
As baby boomers and Generation X have paid off their mortgages, house prices have increased beyond the reach of their children, meaning fewer new mortgage holders in the market.
Instead, more people have been forced to rent, fuelling further demand and pushing prices higher, harming renters' prospects of saving a deposit for their own home.And as rates have risen, genuine pressure on landlords to increase prices has increased.
That leaves renting households facing profound insecurity and local authorities even more pressure for limited social housing stock. This squeeze on renters is just one symptom of Britain's wider housing crisis, which at its heart is a problem of insufficient supply and spiralling affordability.By last year it had increased to 8.3 times, with vastly higher leaps in London and the south-east, where the overheated market accounts for around half of all new mortgage business.
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