ONS Study Reveals UK Rental Affordability Trends

Recent data from the Office for National Statistics (ONS) highlights the growing disparity in rental affordability across England and Wales. Private renters in England spend an average of 34.2% of their income on rent, significantly higher than the 27.2% in Wales, with London being the least affordable region where tenants spend up to 52.2% of their income in Kensington and Chelsea. Notably, Manchester ranks as the second least affordable area, with renters dedicating 45.6% of their income to housing costs. Conversely, North Lincolnshire emerged as the most affordable location, with only 18.8% of income going towards rent. The report indicates that 69.8% of areas in England and Wales had affordable rents, the highest since 2015, though many urban centers continue to struggle with high rental costs. Overall, while some regions see a slight decline in affordability, the trend of increasing rents persists, particularly in major urban areas.