Growing share of under-30s in UK pay unaffordable rent - BBC News
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- Опубликовано: 18 авг 2022
- People under 30 in the UK are facing a growing cost-of-renting crisis, new figures seen by the BBC suggest.
Four in 10 of this age group are now spending more than 30% of their pay on rent, a five-year high according to the data.
Experts say spending this level of income on rental costs is unaffordable.
While London has the highest rents, affordability has worsened in towns such as Rotherham and Bolton, in Northern England, for young people since the pandemic.
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#Rent #CostOfLiving #BBCNews
For newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.
People are expected to pay this outrageous rent yet can't get a mortgage it's pathetic
Yep for me I lost my job and with the price increases my savings have vanished over the past 8 months so now I will lose my home in 11 days not a thing I can do about it. And I am in my mid 30s with a child on the way. It is time we the people stand up for a fair deal for us and stop looking after the rich and stop caring for a capitalist economy people should always come first.
Because the bank is afraid of market crashing so they are careful of lending standard, and landlord likely owned the place for a long time so they have less mortgage burden.
Lot of places require 3 months deposit which is basically a down payment, so most people can't even rent there.
@@tomcapon4447 _exactly_
The system needs to change to Favor the poor
Worldwide it’s seems to be consistent these days: landlords are being crazy greedy and governments are being complacent
Government is being complacent its because most of the MP's including the PM are landlords too its all do with greed.
Another tory shill blaming it on a worldwide problem and yet we are the worst in the g7.
not complacent. Complicit. Something like half of all tory MPs are landlords. And before the current government collapsed I think about two-thirds of government ministers were landlords. they are just looking out for their own interests. And the interests of the house builders and property companies who donate to the tory party
Not all landlords are like this, we rent some properties out and haven't increased the rents since contract was made. Let me tell you also, tenants can be pretty ignorant too sometimes. Yeh I see where the gov is going with this, going to attempt to make private landlords take the bullet for their own incompetences that have lasted over many years. Incidentally I always said they were nuts closing down all these coal power stations and such. See how you all like not being able to ponce about in a T-shirt this winter now you lot. BBC journalists will be okay though on their salaries.
It’s not even about individual landlords. I’ve had 3 landlords before, there have been times where I couldn’t pay them rent and they literally let me off. It’s the companies that are the issue, they have no morals or heart, just profit in their mind
It should be criminal to raise someone's rent this much. Renters need to band together, and demand the government protect vulnerable people from these greedy land-barons.
taSak 911
ruclips.net/video/CWfd8OjWkwg/видео.html
Renters need to band together and just get rid of the greedy land-barons
@@luisdanielmesa So you're saying a 50% increase in rent is justified based on inflation? Come on give me a break. Business owners and landlords often use inflation as the smokescreen to price gouge with impunity, plain and simple.
Also don't give me that "landlords create rental inventory" garbage. What landlords are doing is land-hoarding, and preventing people from owning those properties, plain and simple. They're shrinking the pool of available homes by pulling them off the market to rent, making ownership prices higher, not lower. Amateur land-lording of potential owner-occupier homes should probably be illegal entirely if you ask me.
Not at all. You don’t know what the property value is.
What if their previous contract was extremely low rent for the value but the landlord couldn’t increase due to the terms of the contract. Once the contract ended, it’s totally fair game to increase to the correct level which may well be a 50% increase.
Relying on the government to do anything is what got all of us here in the 1st place, it ain't gonna stop, wait till the stock market and business's collapse, winter is gonna be 1 of the worst the uk has seen ever in our lifetimes, gonna make 2008 look like a fart in the wind.
Can I just say that it's not just under 30s? It's pushed up to people well into their thirties and beyond.
And I imagine 18+ is also in the same boat here. The situation is if you don’t stay at home with your parents well into adulthood you’re screwed 😒
I am having to pay a good part of my state pension towards my rent. I have been on the Choose and Move council scheme for 3 years trying to get a much cheaper place
Absolute disgrace, when young people can’t get access to capital in a capitalist society we’ve got a major problem brewing.
They could get capital if they worked to get proper career jobs. One works in a cafe and one is trying to become an actor. If they chose better careers and trained for them they would be able to get proper full time jobs.
Most people understand they have to work hard in careers they might not even like to be able to afford a more comfortable life. This just looks like a dose of reality for these people. It is a pity their parents didn't advise them to work towards professional career jobs.
@@davidwebb2318 I didn’t have to work hard I got a 100% mortgage, and I don’t think you did either from the sound of it. Have some empathy for the difficulties young people face these days you dickhead
@@davidwebb2318 Nope. You're wrong. In almost every way measurable, millennials are doing worse financially than the generations that came before them and you're a complete idiot if you think its because everyone wants to work in a cafe or become an actor instead of having a career.
@@davidwebb2318 No offence but I feel like you’re closing your eyes to a very real problem here. Both my girlfriend and I have “professional career jobs”, earn above the average wage and still can’t afford to rent together. The prices are extortionate
@@davidwebb2318 that is extremely short sighted.. considering younger people are being employed because they are experienced, yet job sectors complain there aren’t enough experienced workers.
It’s not just young people. Here in the States, the rate of homelessness among seniors is rising at an alarming rate.
I believe the “landlords” are making up for losing capital during the pandemic, and because they can raise rent to whatever level they want. People gotta live somewhere. It’s galling to think that property moguls buy up buildings, get renters to pay for it, so they can buy more buildings. Meanwhile, opportunities for individual home ownership are diminishing.
Its a problem in many countries. Some here pay more than 50% of their pay as rent so even after a full time job they have to apply for housing allowance. All went upside down after that our "wanna be USA" party let the rents loose, before the rents were bound so they couldn't rise the rents every year 1-5%. My personal rent for 38m2 has gone from 600 to 700 in 5 years. With my taxes I need to earn ~1900 a month to loose less than 50% of my pay to rent and I live 5km from closest "city center" 1km from the train so not even close to the expensive ones(there are jobs that still pays less than 1900 month in the city I live in).
My personal thought in this matter is. "Why work when you gain the same standard of life with just sitting at home", plus that you get 40hours + 10hours more free time. So I do understand those that rather sit at home than take a job that pays the same or less than sitting at home.
Yes as long as we live in an apartment that doesn't exceed the "luxury" limit the state will pay a certain share if your earnings are below a certain living standard. So some here say that the state is causing the issue but if they would forget their pay for a few moments and imagine only earning 1300 a month after taxes for spending 50hours a week on a job, paying 650+ rent then they would be able to feel the frustration of not gaining anything for their effort.
Sometimes it feels like they are trying to create modern slaves. Rent's can be controlled and local food can be supported, so basic living should not be this expensive.
Edit: This is if you live alone, it changes when you live with someone else and its also a lot cheaper if you live with someone because you get a 2 person apartment for 900 and 450 is then your share.
We are in a different situation to the USA. We have a small island and a certain number of houses but if the government allows millions and millions of people into the country and doesn't build houses for them then there is a huge difference between supply and demand. Either they are idiots all they have a plan that I don't understand.
let's all squeeze life out of each other
@@atomictraveller I know, but I'm starting to think its the only way to get the old bad blood out. If we squeeze enough the few in the world surviving might forget because this problem exists all over the world...
Seriously don't tell lie. Usa give lots of billions to Ukraine. You saying that usa people are suffering from without homes
Rent prices are insane. My neighbour rents a house identical to mine and his rent is three times my mortgage payments. It's hardly surprising they can't afford to save a deposit
Banks: "So how can we trust that you could pay 500 a month for your morgage?"
Me: "Because I'm currently paying my landlord 1000 a month..."
Saying it is "insane" is one thing, what is the solution?
I suspect the answer is to build more houses so they are available to buy at a reasonable price. That would have the effect of reducing rents because landlords would have to compete with the option of buying. We would also need banks to give mortgages with the borrower only having a 5 or 10% deposit.
This is truly an increasing problem which we (people of my generation) start to feel tired to bear... I'm on my early thirties and I live in London.
I spent the most of my years as an adolescent and an adult sharing apartments or flats and on top of that I never even enjoyed the luxury of a living room! I know we can still consider ourselves a privileged generation but to put a person in condition to pay almost 2000 pound + utilities for a flat is just crazy and highlights the greed of some owners who have no legitimacy in raising the rents.
We're not at all priviliged compared to the boomers. They are also the ones who has enriched themselves at the cost of future generations.
The real money isn’t in building it’s in restricting supply and importing people to increase demand. Stop the white kids breeding and giving Council homes to foreigners and refugees from the Somme where bloody fighting is still continuing, hence the illegal “refugees”.
Landlords are harmful, greedy and unnatural parasites.
Get out of that shite hole London
@@C-eo1rt I agree with all of you, it's a unfair game we are playing nowadays with some players owning more than necessary and some others struggling to have a family... but compare to other places in the world we still are privileged, compered to other moments in the story we are privileged. Not all of us but most of us holds a 1000 phone in their hands and eat and consume and is never been so guaranteed as now.
Now I don't know how much a landlord/lady pays in tax but I think a fair solution would be to reverse the housing taxation into easing the population's rents maybe by decreasing the taxes or possibly by finding a deal with the owners.
Maggie Thatcher said that people should have a right to own their own house. They then sold the council houses off and didn’t build new council houses, which then increased the price of house’s for those who have two or more properties. A complete con because what happened to the money the councils received for the council houses and where did they build more council properties?
@hideen videos and clips dont click its a link to some video game on twitch.. 🗑
Go to Lewisham in London and think again. Where i live in south east london every bit of spare land is being used to build new homes.
where there was a police station x2 there are new homes, where there was a swimming pool there are new homes. to build new homes takes planing.
the British Government have made a GRAVE MISTAKE and are building new homes on flood plans. total madness.
They were forced to sell the council houses at below-market rates. And were then banned from using that money to build more homes. The purpose was to stoke the housing market and artificially boost housing prices because homeowners are more likely to vote tory when they are gaining unearned wealth from property inflation
@@GolfWhisky Can't blame the 10m imports. If you do blame the 10m imports. The question
that needs to be asked why were 10m imported in the first place? Then the question that needs to be asked. Why did this country and many others export their own kind forcably into other countries? Stop the blame others narrative
Labour were just as much to blame for both high immigration and also not building houses.
Nobody for the past 20 or 30 years has done anything to address why property has become so expensive. It's because too many people have insanely profited from house price inflation.
Every person I know who bought a house in the 80s, that same house is worth a minimum of 15x more than what they paid for it. Unfortunately salaries have not risen 15x.
Property has become a BUSINESS! Not a vital human right. The average person would rather invest in bricks and mortar than a hard working business that employs others.
We have a corrupt system and hard working British people who were born here and would love to spend their lives here are being forced to leave.
"The average person would rather invest in bricks and mortar than a hard working business that employs others."
This is not true, landlords are taxed at higher rates than people who run other types of business. That is why so few landlords will put money into constructing new houses to rent.
Its a raw materials and labour shortage. Tradesmen are in short supply because everyone went to get a degree....
flats in our building increased by £350 per month (£1400 -> £1750). More than 10 flats have been sitting vacant for months now. They could have just lowered the rent a bit and still get tenants. Crazy.
I had a landlord rented out at rent -10% and all increases were in line with tenant agreement. Upshot, all houses were taken care of and he had the choice of tenants
Same problem in the Netherlands. It's impossible, especially if you are single to get an affordable place.
Man I can’t even find a place with my brother. Landlords in NL just want couples and require 3x gross income over rent. It’s super stressful
Then move in with your partner;)
@Nemusis 999 that’ll probably lead to even less chance of a positive response 🤣🤣🤣🤣
Smart people moving to RUSSIA.
You mean whole Europe
This is the 'new' future designated for most young population unfortunately. They will either force people off to live in entirely rural areas if possible or homeless shelters
This is what happened
ruclips.net/video/tSLQkJ-X8sU/видео.html
This is what happened
ruclips.net/video/tSLQkJ-X8sU1/видео.html
Living in a rural area would definitely be preferable to be living on top of each other in a freaking over-developed concrete jungle urban hellhole.
@@QuadMochaMatti Uh, no, I'm living it right now, definitely not preferable.
Rural areas are considered preferable by most people though provided they're okay with the fact there's less opportunity, this isn't a country where infrastructure is much of a problem
Even those who have graduated with respectable degrees in high payng jobs are struggling because starting pay is so low and they will have to spend ages, may many years to get into senior position.
taSak 911
ruclips.net/video/CWfd8OjWkwg/видео.html
As if going to uni should be only way you can afford to live anyway
Yeah I remember seeing that in the US the student loan amount is in the six figures it's becoming to become ridiculous
@@petetong3166 most uni graduates are starving more than non -uni grads cos they studied worthless subjects like English literature or gender studies. They'll serve coffee forever.
If you didn't go to uni then you are supposed to run a business. If you don't go Uni, what do you do? You have no student debt, extra savings and the freedom to start your business. What's your excuse bro??
ah feel that pain so bad, graduated and got my first graduate job was cut short due to Brexit which cut the project was working on
The housing crisis in England and the UK is broken down and needs complete government intervention before it gets critical worsen. Rent and bills are 100% higher than people wages.
you shouldn't have supported ukraine lol
Intervention has already happened, a large portion of income is being diverted to Ukraine at the moment which will keep on occurring.
@@leftright313 nice conspiracy theory, did an adult help you make that up?
@@BritishEngineer nice conspiracy theory, did an adult help you make that up?
We are always struggling to adjust what's been and done in the past with the consequences of it for young people, completely dismissing the next generations and thus condemned to repeat the cicle over and over. If our parents had a decent job in their 20s, in their 30s they could buy a house with their partner and have the middle class dream. We grew up hearing that, only to find out that now you need a phD and years of experience to be able to... Pay rent. While we figure this out, some big issue is slowly cooking for the next generation to deal with. But we can only tell them what we learned, and they won't know what to do.
Hello A. can I ask you a question if you don’t mind?
@@jamespatrick20906 ...Yes?
@@AliceP. where are you from
Can I ask,
where do you live?
@@AliceP. true all problem
When I was living in NYC, about 70% of my income went to the Rent.
Which part of ny did you live in, and job were you doing why your rent was so much?
@@Stinkmeaner420 Because it's America ?
@@Elo-hv3fw no because it’s New York City. The rents are lower in many places outside of the major metropolitan areas.
Good God man how did you survive? I am guessing the other 30% went straight to bills?
Encouraging full-remote work could really help revitalising decaying areas, where cost of living and rent is much lower. Highly qualified individuals could act as an economic multiplier and generate service jobs on those areas.
True but wouldn't that gentrify the people from poorer rural areas when people who can outprice them move in from London?
It is that any one have to create economical way to pay your bills ,if government is failure to provide good services to original citizens of UK and providing good perks to Indians who are living there ,then it's a so pure that these developed country giving chance to India like country to become Developed country and those country want themselves underdeveloped country.
Thankful that this issue comes into a focus❤️
@@fullmetaltheorist If it pushes the prices up in areas outside of London then those people benefit from selling their property at a higher price. I guess you use the word "gentrify" as a sort of negative but increasing wealth is not a negative thing.
gentrification brain is one hell of a drug
@@C-eo1rt But it is the local people who sell their properties as prices go up. Blame them for selling.
When people buy property and refurbish it to either rent or sell they are improving the housing stock. Yes, rents will go up in those areas but that is a reflection of the improved property. Do you think it is better for people to all live in cheap housing that is in a poor state?!?!
The only way you can prevent people from buying and selling property is to enforce state ownership of all property. That is the ridiculous dream of communists everywhere. The trouble is that communism always ends up in poverty. If state ownership of all property is something you think is a good idea I suggest you move to Venezuela or North Korea.
Same in Istanbul, Turkey. Young people have got to live with their parents and can't get married...
It's really upsetting to see how many people not just in the US, but also in other nations as well, are struggling to make ends meet and to have money for food, water, and even rent.
Because no one will take action
It will only get worse.
I have even heard of people complaining about the same thing on Australia and New Zealand. Particularly Sydney, Melbourne, Perth (despite being the main city of a state which is over third of the Australian continent) and Auckland.
Yes it’s every where
Hard to generalize the US tho because it depends much more heavily where you live. I was living in Ohio and average rent where I was for a huge 2br apartment was literally a quarter of the price of where I now live in the south of England. As soon as I save the money I’m going back to America. Even with the cost of healthcare it’s still better cost of living than I can see there being for the foreseeable future in the UK. Energy prices in the UK have gone up over 100% this year alone. It’s terrifying. I should have never left America
It's everything and everywhere...the inequality gap has become unfathomable...the richest have seen their wealth increase twice over in two years,and poorest are twice as poor.
It's ridiculous. I've been trying (unsuccessfully) to get more hours or a higher wage but I'm still only earning a bit over £1200/month. I pay 2/3rds of that on a one-bed apartment, non-inclusive of bills. That remaining 400/month is split between water, gas, electric, food and council tax. We would not be able to survive without UC payments and even then money is really tight. We do not have savings.
I'm very glad I stumbled on this today writing to him now.. Really hope he can help me
Happy to hear this😃 really need some good money to take good care of my kid's?
The rent situation in the Netherlands is absolutely insane especially for international and EU students. Not only am I paying 2 times what I was paying in the UK for the same quality of flat, with the current increase of prices and the competitiveness of the market is impossible to afford a place. And the official university pages state: "Do not come if you do not have a place to stay. Consider deferring your studies until you secure accommodation." That's the only "help" available, and for someone who is midway through their studies is just as hard because I now have to consider quitting my degree just because I cannot secure a room for the next year until I graduate.
As someone from NL, a decade ago when I studied it was impossible to secure accommodation for the first 1.5 year of my study leading to a daily commute of 5 hours in total.
@@91Durktheturk 5 hours a day! 🤦♂️ sound horrific, I heard that NL is tough for rent, same here in Dublin, things have gotten ridiculous in Europe
At this point wouldn't a camping car + gym membership (showers) make more sense? I would do that out of spite.
How much "help" do you think the university owes you? You are an adult now, it is up to you to sort out your own housing. When you get out to work do you expect your employer to sort out your accomodation?
@@davidwebb2318 Hi David if I was to hazard a guess I’d assume you are middle aged and owner of an affordable property. Things aren’t as handy now, so less scoffing from your ivory tower there like a good man.
What an absolute state the UK is in. I'm a fully qualified nurse, 12 years experience. Even my pay is stretched and stuck with renting. I'm currently saving all I can to get a mortgage but it's a struggle even with cutting lots of none essential bills.
If possible, young people need to stay living at home with their parents for longer until they have saved enough for a mortgage deposit.
They will never saved up. Entitled children will continue to be such a big burden to their elder parents until they die. It is tough these days, but it is selfish to live on benefits of parents, unless they are wealthy.
@@Serena_9 it's only selfish if they demand it. If their parents are happy to let them stay it's a different story
Sometimes it a choice of a worse job but staying at home or a job with more opportunities but you have to move out as it’s not commutable
this, everyone, has been going on about energy costs but you can at least turn the heating off, my landlord told me they were selling up or we could pay £400 more, going from £800 per month to £1,200 per month... if my energy goes up too I could be paying an extra £800 per month this year compared to last year. If I could just have a 50% payrise to match, that would be great.
Taxes on landlords changed considerably. Hence, 350k lanlords sold up since 2019.
Same boat except my job has gone and out in 11 days things need to change they are getting beyond a joke now.
With you on this one. But I’m self employed I put my prices up I don’t get work.
@@jonathantaylor147 i put my prices less got enough work.
@@allykhan8594Good! Let people have a chance to buy their own property and not line the pockets of rich landlords.
Stop allowing corporate owners to charge the ridiculous rates that they want. If they don’t improve a flat, _why do they get to charge more year after year_
This is hardly a new problem and should have been reported on years ago
Same problem in Canada
It's all about gouging and the rich get richer.
Landlords have been eyeing up HMOs (housing of multiple occupants) as the next moneymakers & they’re right. Everyone who can’t afford to buy will eventually have to live their entire lives like students.
I think the HMO craze has already kind of passed. HMOs were really big at one point but now as there are loads of regulations around HMOs now and you need to apply for approval with the council to have one it died off. On top of that some areas now outright ban HMOs.
The new trend for landlords is in converting ex-retail and ex-office buildings into rooms to rent as this no longer needs planning application and these buildings sell for far less than housing. If you have lots of cash it's very easy to make huge returns doing this right now.
@@jasonbaxter3658 thanks for info
In Germany you can only raise rent every two years and maximum 25 % of the last rent and you can not raise above the average rent in the region. Problem is maintaining and modernization costs are very high and so the rents raise. I would say the problem is that the salaries did not go up in real terms since the 80s. Managers and Bankers salary exploded and the rest is toast
Not even managers my guy. I’m managerial in the company I work for and my salary is about 2x-3 that of those I manage in more entry level jobs.
If we look at our directors however - easily 20x what the guys/girls on the sales floor earn. Note they didn’t found the company or anything either. They were appointed then raised their packages every year and afaik have no plans to stop.
The only way of getting a pay increase is job hopping but who wants to change job now in recession
Same thing is happening in Toronto Canada. This issue seems to be happening all over.
I'm 25, working a 0 hour contract, with a company going bankrupt and paying 40% going to rent and 40-50% going to bills, it is more or less impossible to make a living and enjoy life when you're scrapping by to survive; and that with making cutbacks where it's possible. The problem will only get worse with inflation rising with pay not reflecting the rising costs.
It is not living, it is surviving to the next paycheck to relive in the endless cycle.
welcome to the real world. It has always been the same when you are in your 20's and trying to get established in the adult world of work. Try asking people of your grandparents' age if their lives were easy when they were getting started in life!
Government biggest lie about more affordable homes ? They only building for investors or investors are building for them but ordinary people cannot afford 😭🙏
Yep we have no chance! Sadly the corporation's run things now.
I notice most of the new builds are not starter homes, but luxury houses with three and four bedrooms! How's that going to help the people who need it most...first time buyers and lower income people?
This is a problem that started in the early 90s. Before that 2.5 times is what banks would lend for a mortgage and it all worked because average house prices were 2.5 times average salaries. A family with one person working could afford houses and it worked. House prices and rents have been left to soar and it’s another factor in broken Britain.
Quite right Jon. The generation that bought back then say the current generation are just lazy. What nonsense. The situation now is very different and far more expensive.
House prices are supply and demand. But when people predicted it in the 70s they were called racist
my mum was the only person working in the 90's and she was able to look after myself and 2 other siblings we went on holiday at least once a year and she was able to buy 3 houses. a lot of her friends couldn't do the same because all they did was go on holiday 3 times a year and go out every weekend to eat. back then she was on around 35k which I believe is around 70+ in todays money. houses at the time was around I think 160-190k for a house and 80k for a house flat in zone 3. the best way to "save money in hard times" is to earn more money and sacrifice lifestyle choices.
@@Felix-rising Let me guess… immigration is to blame? 🙄 just predictable. There are lots of reasons for house price rises other than immigration. Maggie selling council properties and not replacing them thereby reducing the stock, people living longer than ever before often remaining in their homes, more single and divorced people than ever before, a major increase in people buying to let therefore reducing stock available for sale and landlords focusing on making money rather than providing homes, and foreign buyers like Russian, Arab and Chinese who’s properties stay empty the majority of the year, again reducing the stock available.
@@Gates2Aion your mum taught you well 😉
same here in australia ,rents are ridiculous and your lucky to find somewhere to rent if your looking ...everything has gone up not just housing ...peace and love everyone
This is happening globally, not just in the UK.
@@id101192 I think he meant "in all *developed* countries".
Nope. I live in Germany. Mid sized but yet important city (Leipzig). I don't have a qualified job. I pay my rent for a house I would have only dreamed of years ago and yet I almost have around 2000 euros of disposable income. There are still places around where you can have a good life. It is just a matter of moving there.
@@oriolpujolmartinez7268 props for finding one. 2000€ disposable incooome? I hope you’re more than happy, I’d be totally blissed out with what you have at your “disposal” dang!
@@aronrendkivuli9146 I had to leave my country (Spain), for one with a much worse weather, food, and and well, leaving behind friends and family. I miss my city and the brightness of the sun that shines in the Mediterranean, but had to make the move to have the living I should be having at my thirties. A life that in now way I would had had in Spain. The thing is it is very rare to find english "expats" (I hate this fancy words brits use as an euphemism for IMMIGRANT). Because yeah, they are english. The centre of the world. And of course they'll never be immigrants. That's a thing only for brown people and south euopeans. Well maybe now will come the time when it is them that'll have to fly from their country.
@@oriolpujolmartinez7268 you’re lucky too. Yeah, the Brits would never be expats anywhere. Lol :D
Not just in the UK. Even in my small town, the rent prices are getting higher. And all the other prices are increasing. Seems like the world is heading towards a time of calamity. 😥🤦♀️
Your right!
London is insanely expensive for young people
Most rent costs more than mortgage payments.
Zero hours contracts should be made illegal.
It isn't good for the economy when people don't have job security.
There is too much emphasis on university education which in England alone saddles young people with over £50,000 of debt.
It's no wonder that between zero hours contracts and student loan repayments that young people are stuck in this catch 22 system where they can't get a foot on the property ladder.
Yeah. Or non-zero hour contracts which allow anemployer to fire you even without notice within first month (just happened to me). This country protects employers not employees.
Government takes half, landlord half of the half. You work for a quarter of what the actual value of work is. And thats without counting just spending on staying alive...
It's getting to the point moving out of home is a mugs game that could have a negative effect on your finances for life
Landlords provide places to live like a scalper provides tickets to events.
Exactly this. Supply and demand.
Don't feel alone, 2 years ago I paid $800 USD per month, all utilities included. Now I pay $1875 USD plus all utilities except once weekly trash pickup.
The u.s system is perhaps the most harsh.
This is what happened
ruclips.net/video/tSLQkJ-X8sU/видео.html
This is what happened
ruclips.net/video/tSLQkJ-X8sU1/видео.html
That’s madness that how big is the house ?
I am paying a little more than that for a small one bed flat in England. Needs to change.
Try renting in any city and regional town in Australia. Regardless of age, fewer and fewer people own homes and are therefore at the mercy of the rental market. Rents have risen beyond affordability and consuming more than 70% of a person's weekly income. This primarily due to the profiteering by landlords who have made investing in property for profit their business for the last 30 years. Incomes have not kept up with inflation, while corporations ( and landlords) keep pocketing more and more profits. Capitalism at its best.
china and russia are delighted at this capitalism on roids, thank you for the road and belt, join or street life, choose
@@xpengfangirl7942 In China people can't even take money out of their bankaccount. The housing market totally collapsed in China. They got even worse problems.
This really does seem to be happening all over the world! Here in the States we’re told that demand has gone up so prices are up. But if it’s happening everywhere?!?
You have the opportunity to get rich in this country. You could literally become a landlord yourself if you didn't fuck around in school, got a high paying career and get a mortgage through that avenue. You can still get rich from a business perspective as well.
Just because we are clever and work hard, while others habitually blow their money on cigarettes and alcohol doesn't mean we should get punished for the inadequacy and mediocrity of the masses. Step your game up! Educate yourself. The world is getting harder to live in, adapt or go extinct.
There is always a solution. It might be obscure and the hardest thing to achieve in your life but it is still a solution and it is worth pursuing.
@@ZahdShah Yeah, you can do all of that, but it does not mean the next generation have to be miserable to get what we call financial stable.
Rent should be regulated to a third of the median income of the people in the area. This is a crisis. A society cannot function with its young either homeless or living with parents.
here in germany its over 50% of your wages for rent as long as i can remember & it sucks!
That's happening all across Europe and North-America. And then you wonder why young people don't have kids anymore...
It’s worse in the US.
Corps. Bought everything and are price gouging
salford area is popular for the overseas doctors who come to uk for licensing exams at Hardman street.the agencies have understood the demand and now one small room in a house share is not less than 650-700pcm and even sometimes 2 people share one room each paying not less than 500pcm.
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No mention of how difficult it is to get a mortgage on a city flat unless you’re buying it to rent with an investment loan.
Aa Really brought home how bad the situation is when the guy at the end expressed gratitude for simply having enough space to stand up inside his shared apartment.
Great
I feel like a king 🤴 now in 600 sqf apartment, I could never live in Hong Kong under those conditions 😐. Poor people, the government should change their policies.
yes, agreed
These is,nt good in the sense that it ends up affecting civilians financially in different angles of life
We see complains here and there on social media ,from different people in different parts all around the world
I had to move into my motorhome 4 months ago, I get moved on by police most nights as if it was a choice. This country is really in trouble
Ah man, that's bad. You are right though, this country is going down the toilet. 😐
In the states I feel there are less and less "landlords" and more corporate property managing companies who own dozens of buildings in some other part of the country who don't care about individuals since there is no confrontation but sees only numbers on a spreadsheet. From my experience a landlord you can talk to in person is more understandable than calling some hotline.
This doesn’t only affect young people, it’s across all demographics.
@@moe2408 Pretty certain that 16-18 year olds are a demographic 🤦🏼♂
That's the modern BBC for you, they have to focus EVERYTHING on some sub-population or other, because otherwise they might foster social solidarity and we can't have that.
Everyone
it mostly affects young people who are trying to move out from parents, in uni, earning lower than grown adults
@@mariatt293 Sorry to burst your bubble but you’re completely wrong. The escalation in rent affects all of us thus rent and nine times out of ten the huge rent increases is out of greed rather than fixed costs increasing. It doesn’t matter what age you are, everyone who rents are being bleed dry. I’m one of those people and I’m in my 40’s.
Same problem here in the United States. Skyrocketing rent prices are leading to battles for rent and people struggling to get by. It’s literally becoming unaffordable to simply live.
It’s been like this since I started working at 16 2006, half wages or more go on rent council tax and the half of the remaining on living costs petrol food , it’s live to exist in London , and has been like this for f 14 years ? How is this feasable , I lived on my own from 20 apprenticeship at 16 , and whole time has been me questioning is this life or is this just not normal ! I guarantee nothing gets done , I’m looking to move country’s at the minute
Pretty much the same issue in Norway. I have given up ever thinking I can ever buy a home. Where the prices aswell have skyrocketed.
Yup rent caps like in Dublin,Berlin Vienna or most of Belgium ecetera is a must it would solve lots of problems but it won't happen under tories
Thatcher sold all the social housing and stopped councils from using the money to build more. Housing has become something that society could help provide to an investment that is never allowed to decrease in price
Yet how did she get away with doing that and why was she in office for so long?
This is what happened
ruclips.net/video/tSLQkJ-X8sU1/видео.html
This is what happened
ruclips.net/video/tSLQkJ-X8sU/видео.html
yet people are living in these houses so they are still providing homes
council housing is not the answer or we would not have union bosses on £100k's+ proud to be living in them
I haven’t heard of the group generation rent before. That sounds like a really good thing to get into. I am a student at University. Well, actually I just graduated in July but still feels like I’m a student as I’ll still be continuing my studies in my spare time around the University. I I am down in Falmouth Cornwall and and for third year my house price was so much more than it had been for the previous year with even lower quality property.I’m now wanting to rent with other people for an additional year or so until I can get a full-time job in the industry I want to be in, but the rent prices are still just going up and you don’t know whether you can afford to be picky or not when you want to be able to liveComfortably for the first time fully away from home. And plus with all the energy bills skyrocketing, you really don’t have many options and you don’t know whether to go for a house that is expensive with the bills tied in, or property that’s cheaper and take the risk with the energy bills separately. They are skyrocketing way too fast for anyone to be able to afford, and you know the landlords are still making a profit on the houses so they shouldn’t be racking them up like this for security, not considering the young people they are affecting. There needs to be a freeze on the increase in property prices, especially before December or a reset. And most definitely more energy bills for young people. At least an exception for a few years if they can improve their circumstances and monetary levels. Considering the overall age demographic in the country, the energy companies can afford to take the hit.
don't worry they will bring in millions of Indians to fill the jobs as they will sleep 10 to a room, even including the kitchen
"There needs to be a freeze on the increase in property prices, especially before December or a reset"
"Considering the overall age demographic in the country, the energy companies can afford to take the hit."
So, you think older people should pay your bills for you?! Maybe you should try visiting us in the real world, it is quite different to your socialist utopia.
Whats the game plan for a job ??? If you study for a qualification invest all that time and energy then you need a payback. Studying and drinking coffee and meeting people is fun most paid employment isnt but it pays bills.
This is what happens when you let council houses be sold off and privatised...
"Abolish no fault evictions" if that's anything like here in NZ it will cause a huge amount of evictions before the law starts. All the borderline, not great not terrible tenants will be moved on and rents will go up again.
Lol. It is too true. But really you think the bulk of them understand that???
Wow you call this news. Its been happening for years. Thank you bbc for finally covering it. People need to have a place to call home AND OWN IT at an affordable price. House prices were once 3 to 4 times avarge wages. Landlord are regular people who through a housing system like ours are incentivised to be greedy. It has to stop its affecting mental health and causing absolute misery for the young and poor. Enough is enough.
It's not just the youngsters struggling It's also the parents who are renting as well. I couldn't afford the rent when the local council put up my rent and council tax and was almost evicted due to rent arrears.. My daughter and her fiance moved in with me as they found it hard to find a place of their own to rent that was affordable and we all share the rent now. All of us were in low paid jobs. Now it's a bit better as I've managed to get a slightly better paid job but they will be moving in with my mother as some point as she is struggling more than me since my father died.
Me and my husband have had to move into my parents. The landlord sold our flat to the council and the cost of £800 (double the cost of our rent), COVID tests to get abroad to see a dying family/ funeral plus £450 to have my tooth pulled out, (a whole month's rent), cause the NHS was full
Large parts of Salford area was a dump with property prices £15-20k whilst in London property prices were just under £95-99k for 3 bedroom terraced house free hold on mid 1990s
Here in Dublin it’s the same thing, one bed flat €1500, 2 bed €2000, 3 bed €2300 +. Feel sorry for anyone renting, it shouldn’t be like this
This is all a demand side problem - helped by the government. If the government can remove planning restrictions and allow developers or private builders to develop more houses, the prices of houses will decrease (or rise at a lower rate), which means landlords won't charge as much rent as there will be more houses available.
Landlord buying expensive houses just to rent will have to charge more rent
The government has been telling local councils to approve more housing for years. Local council planning officers think their primary role is to refuse as many applications as possible. They are the problem.
@@davidwebb2318 many of them have archaic planning laws, especially central London
@@jenob9011 To me it seems that it is the way planning officers apply the rules that holds up progress. They try to interpret every planning rule in a way that stops progress.
@@davidwebb2318 so do you think we'd be having a lot more progress if the stubborn planning officers accepted firms building houses?
@@shanepatrick641 Yes, clearly. Housebuilding firms don't just need to get applications aporoved more quickly they need councils to come to them with proposals for massuve numbers of houses. Councils don't do this. They take a mostly passive approach, just sitting back and waiting for applications and then dealing with them really slowly.
Just got an email from my landlord saying that he needs to increase the rent to £850 for a tiny double room in the flat without a living room... That's insane.
Absolutely mad
@@popcornfilms1 he also mentioned that energy bills will go up again in January. That means my rent will increase again.
Is this in London? or a neighboring town or city?
@@rozi2089 London, Fulham
@@Michael-qg6sg Tell him no thanks, you will move.
A student studying in Munich Germany, the rent is getting unaffordable, the energy price as well
Christ, it's cheaper to live in one of those budget hotels in Hounslow for about 35 GBP a night than renting a room in London.
Here in the US people cannot afford rent. We have to live in trucks. We spend most of our money on food or shelter. So many people have to visit food banks just to eat.
it is not just british young people who are hardly pay for their rents. it is everywhere in the world which young people are facing with their basic sheltering problem related to their dwindling small income.
Really terrible, young people need to have stability and reasonable rents. Perhaps this will need to be enforced on those trying to exploit a bad situation.
I was paying half if my income every month. We my wife's income and whatever I had left. I was living in British Columbia at the time. My old friends tell me it's much worse now than 12 years ago. I was paying 1800 a month but now that same place is 3000 . Greed is all around us
Rents in "general" have gone up for a "lot" of age groups...........NOT just under 30,s..........ALL ages............
It's been like that for a long time in the UK. I left the country a long time ago because of the housing scarcity.
Which country should I move to?? I've always wanted to move to America, South Dakota or Montana...
You'll own nothing and you'll be happy.
Eat bug. Watch Marvel. Live in 6'x6'x6' cube. You are happy.
You’re not alone! In Canada and USA is going through the same greed problem!
I don't know how this is in the UK, but in the states, the further you get away from a city or a town the cheaper rent is. The last house we rented was on 2 acres, and we were paying 600 a month for that. Now we're buying a different house, also on 2 acres. The mortgage payment is about the same. I know a lot of people feel the need to be in the city because it's easier to find work, but if you don't live in the city, you don't have to work as much, because it costs less! I guess a lot of people actually like cities. I can't really understand that myself.
Wow! That is very good value for money. If you take England alone, it is about the same area as Washington State, with a much higher population density. The UK has a population of 68 million, with 84% of that living in England. Countryside rents are realistically just as high, if not more. £500 rent will get you very little in the way of living area and certainly not any area of land. You'd get the house/flat size for that money in one of the more run-down towns, where employment rates are lower. A house with two Acres would be thousands of pounds!
Where I live in the UK, you'll pay more the further away from the city you are, because being in the countryside is seen as affluent. City rentals are quite cheap as they tend to be small and noisy.
@@mydogeatspuke The Brits always drive on the other side, dont they...
Same as in England. Countryside is cheaper, but less work opportunities and you need a mortgage to pay travel to commute to the city. £700 per month for travel!
As a 21 yr old sharing a council flat with my boyfriend. We’re lucky to have what we have. It’s not much but it’s a place to live, we thought about finding somewhere better but the cheapest rents outside of council housing are impossibly high even before factoring in all the bills. We work between 30-50 a week each, and live in the north, but still the cost of living in unbelievable, we are simply struggling our way through our twenty’s. It’s impossible to save even for the future. We went into debt trying to survive the pandemic so working on getting out of that, wish we could do something nice like holiday after all these years of stress but the possibility of that seems like a lifetime away
For what it’s worth, I hope things turn out well for the both of you
@Nemusis 999 Xenophobe
I live in a northern mining town in Manitoba , Canada ( You know...the colonies). An English chap and his family moved there for work as an electrician . I got him to wire my house and he told me (12 years ago) that his father advised him to leave England because there was no future for him there. Pretty sad for a country that only 120 years ago , was a world leader. And what amazes me , is that the people whose futures are being eliminated KEEP VOTING FOR THE SAME INCOMPETENT, CORRUPT, GREEDY, PROGRESSIVE POLITICIANS THAT ARE DESTROYING THEIR LIVES !
@Nemusis 999 the 'illegals' are homeless, no bank accounts, messed up credit scores etc how can they possibly drive up the hse prices l wonder?
Number of houses built each year between 1945 and 1980 350,000. Number built since 1980 200,000. The problem isn't immigration its lack of housing exacerbated in many cities by while developments being bought up by "Investors" from abroad and then sitting empty for years. Our entire housing market has become a money cleaning scheme for Russian oligarchs among others.
I tried living in a car to save money. It worked. But now places are very restrictive about overnight parking.
Paying less than 30% of wages on rent in London is laughable
Laughable everywhere now I live between Gatwick and brighton far higher than %30 of my income is rent.
I have a brother lives in London and though 30% Bargain lol
It’s more like 60-70 in London
I know it's drastic but you could consider moving somewhere cheaper than London, basically anywhere else in the UK would do. For example, you can buy a house in Birmingham for £80k with no deposit and your salary would only need to be £18k.
Homeowners should not be allowed to buy more than two homes. If they want to own a 3rd, 4th, etc home, they are free to BUILD it. It is insane how people with deep pockets and companies can buy up multiple homes and increase rents & home prices!!!
Now that's spot on sir!
In the US rent is a 1/3 to 1/2 of incomes
the utilities here in the usa are doing the same thing, they set bare minimum payment even if you dont use their service, such as water,gas ,etc , prices are so damn high you have to budget everything, our electric alone is over 200.00 bucks a month, water 50.00, for just two people not to mention other bills, thats even being conservative
It will only go worse, and it's not just the UK. Most if not all of western Europe. Also Iceland where people work 2 jobs just to pay rent
I really do feel for my generation here and having rented myself it’s not the best feeling in the world giving your hard earned money to pay for another persons mortgage. I was fortunate enough to move back home with my parents pre-pandemic, a luxury not many people have, but it honestly supercharged my savings. The small sacrifice of losing some independence really paid off as I can now afford to buy a decent flat. If you have the option of moving back home even for a short while I’d say do it.
Dude you can only go back to dads when you broke up with a girl lol 😂
exactly, nowadays, the only way to save enough money to get your own place is to keep living at home with your parents for as long as possible, otherwise you'll just spend all your money on rent
Now days ur partner wont let u do that and alot time you have no choice but to sacrifice money over peace.
@@lunaargentum1743 not many parents want their kids living rent free at their home
When you rent you aren't "giving your hard earned money to pay for another persons mortgage". You are paying them for the use of their property.
Glad to hear you could save to buy a flat.
Your first 25 years of life will dictate the next 50 years. Make your choices wisely and remember that “Time is the scarcity, and it's the commodity we can't create any more of”.
Not the first time, I Can Remember Young Students Struggled in the 80s To Rent Flats. It's Is Always Down To Greedy Landlords. And Never Do Any Repairs. I'm Still Renting At 70, I could pay for A Mortgage, unfortunately It Is Quite Difficult For Pensioners To Get A Mortgage.
When we moved to our current apartment in Isle of Dogs we were paying £1250 pcm come this September we'll be paying £1500 excluding bills. We live in a 2 bed ground floor apartment, we're in our 30s with 2 children under 3 and we're just about keeping our heads above water, even with my husband's salary.
there are no flats on the Isle of Dogs for that low rent, that is simply a lie.
I have lived on the IoD for 10 years now, I know it very well.
This is what gets me, the media here focuses so much on the "younger generations" who can't afford to rent. What about the growing share of 50+'s that can't afford to buy a house, unless you go to the extreme north, where there is little to no work. How will we live when we are supposed to retire?! More likely, how will we get work at age 70, because we will need to keep earning to pay extortionate rents!
I've always experienced rent being half my income. It's not new but it is getting worse.
Thanks for posting.
Just think about the words we're using,
"Land Lord" !!
Totally agree it’s funny like we are slaves or smth
A 50 percent rent increase? How on Earth is that legal
That's absurd isn't it. The landlord hopes they either pay it or they move out and get another sucker
0:54 oh shit ..that’s one of the offices for where i work 😅
I have a full time job and is looking to move out to where my office is as they want to make coming in to the office compulsory in November but I can't find a place for even half of my salary . I have to 2/3 if I want to move out which is ridiculous. Especially when I can do the work to the same level WFH.
The government is not at all aware of the cost of living in London. They simply don't know that London has turned into a jungle without laws and without tenant protection
And knife crime.. yikes 😬