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Living on the South Coast the rents are far higher than the wages. A typical 3 bedroom property is on average between £1200 to £3000 per month. This leaves no money to actually live. After recently viewing a 2 bedroom cottage valued at £895 per month, the estate agent informed me that they would be looking for a salary of £31000 per year. How is anyone able to save for a deposit to buy their own house while paying exorbitant rental costs?
If the government enforced that the landlords can only charge a small percentage of the property value, it would stop the mass extortion of the rental sector.
This needs to change NOW!
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