"Half Their Income On Rent!" Georgie Frost Talks Rising Cost Of Renting Property In UK
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- Опубликовано: 4 окт 2023
- Georgie Frost from The Times' Money Mentor discusses the difficult situation facing people as rental costs rise to record levels.
Private home rents in England have increased to their highest point on record after shortages in supply and mortgage rates rising.
According to Rightmove, the average rent for new properties being put on the market now stands at a record £1,278 per calendar month outside London in the July to September period.
Georgie says: "A third of people in this country are spending over half of their income on rent."
#georgiefrost #property #jeremykyle #nicolathorp #talktv
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As long as borders are open. Supply will never meet demand
All part of the WEF globalist great reset agenda 21-30, you will own nothing and be happy brigades klaus Schwab. It's happening all over the collective west, Inc the US!! Watch alternative media with independent journalism, for the real UK and global news.
Same for every service we have. The answer is always just, 'more money'......
No, its because we stopped building council houses as soon as Thatcher got in. You only have to look at the figures .
@@garyh1572
pretty sure there was a Labour Gov from 1997-2010
But Old Mags still haunts your nightmares eh?
Thatcher sold off the council houses.
Half my income on rent? I fucking wish.
I spend 70% of what i earn every month on rent, im not entitled to a council house, im not entitled to any support because i work 40 hours a week.
Life is this country is fucking unbearable.
I live in a council flat and it's not much better.the rent is based on the average price of the area and you get a couple of months free.
My area got taken over by rich Londoners so all the flat prices went up.
But none of the factory workers wages went up.
Did you vote for brexit and the Tories?
The rent is subsidised , not really much to do with the area, they said years ago they are looking to increase it to be in line with private sectors as its not enough to maintain the stock so watch out in future, @@raven-sf3di
Is that London
@@bazcambs451
The rent was hideous even before Brexit you goblin, every country with insanity levels of immigration has a housing crisis.
Supply and demand = inflated housing costs.
Not to worry, those million more migrants last year have their rent paid for by the TAX payer. You'll own nothing and be happy... apart from those who own everything and are utterly miserable.
And a big chunk on tax paying for illegals in 4/5 star hotels
Indeed, all part of the WEF globalist great reset agenda 21-30, you will own nothing and be happy brigade klaus Schwab. It's happening all over the collective west Inc the US, Australia etc.
Islam leaders taken over UK. What do you expect
And the other half on gas & electric bills…..
Sorry, nothing left for actual food
Correct. And don't forget council tax and London public transport monthly cost! 😱😕
I've always wondered why no one talks about there being no help for single living working people! After all we have to pay ALL bills and taxes on a single living wage other than a measely 25% council discount. Why is there no help for them when married people get tax breaks etc. People who can't be bothered to work get benefits etc and I'm all for helping those who genuinely need help but let's not forget single loving people too! The country bangs on about equality but where is the equality for single living people?
To incentivise you to get married! And single people can still house share.
There isnt any equslity. And if you re over 60 noone will rent a room to you anyway working or not. I dread being pensiin age my life is finished.
Greed.
When on average 25 people turn up per flat or house 🏡 it’s a bad time to rent as landlords will push up prices as much as they can 🙈
Remember everyone a little phrase : "You will own nothing, and be happy." I think that applies to this situation.
on NMW working normal hours £1300 is all their wage!
The government and banks have helped create a divide-and-rule situation between landlords and tenants for whose long-term benefit? The hidden homeless levels in this country must be steadily rising, alongside official homeless rates, worrying times.
No get rid of landlords and bring back council housing. It was a great way of life I grew up in one and couldn’t of been happier then I am in renting privatly
how about a rent gap to stop greedy landlord. how about stopping people buying multplie properties
I rented a lot in Scotland and my experience as a whole if anybody's asking you to pay rent by Cash they're not declaring their income, I GUARANTEE this, any self-respecting personal or anything like that would expect you to pay by your bank accounts as it's proof the money was sent by the renter and proof that you received it as the landlord. When Cash there's no record of it even the written record rent book could be lost or forged. I think it should be illegal that you are able to pay cash for your rent it should be you know for your bank account
If you earn the average salary in the uk, you probably shouldnt rent anything as you're going to be right on the breadline.
Take monthly median take home salary, without pension contributions, is about £2500. 1 beds are about £1000 now. Add in all bills and pension contributions, food, travel, anything goes wrong you're screwed.
I agree but what if you have no choice? Not everyone can live with their parents.
Nobody politicians or the public can’t face the truth
I am spending over 80% of my monthly income in mortgage. So how is paying rent any different?
"Not a word from RS". He already scrapped planned changes to EPCs which would have been catastrophic for tenants. He should be given some credit for ditching that net zero lunacy that could have seen thousands of evictions and rents spiralling even further. .
My story is amazing I was homeless for a bit I live in a bungalow with a big garden now £420p a week rent council property private rental is terrible my brother son was paying £120 a week dump
I don't understand so you pay 420a week or a month?
My rent last year went up £9 approx, this year in August it goes up another £60. Fortunately, at least at this time, my rent is met by DWP. I am facing the prospect of homelessness as the landlord wants to sell, it's on hold at the moment but that could change at anytime.
Thanks TalkTV to bring out the subject of high rent. Landlords prevent other renters getting on the property ladder, and rip-off renters from their hard-earned income. There should be rent control (cap on annual increase to put-off landlords).
By all means legislate us out of the PRS, But please explain, where are our tenants who we evict going to live ?
And the boats keep coming. And get this property prices will double why? Migrants.
More laws and protection for private renters needed
So what are we going to do about it
Getting out of bed and going to work isn’t worth it in my opinion £1300 a month just to rent a house what about council tax electric gas water and food your basically living from pay check to pay check and got nothing to show for it and I’m a single guy living on my own who works full time gets no help apart from a pathetic 25% off my council tax your better off living on the dole.
So you can live on 750 benefits? Why bother working with all those riches!
Just say thank you government for lockdown and printing money
We fill the country with more and more people, net immigration of 745 000 last year, that's an additional 2 000 new arrivals competing for accommodation EVERY DAY. The increase in demand outstrips the supply of new housing. The only solution is for more people to live in every dwelling, which is achieved by increasing rents. More people must live in each dwelling in order to pay the rent. This is the consequence of the mass immigration inflicted on the country by successive governments and the Home Office. Is this what you wanted? Probably not, but it is what is relentlessly inflicted on renters. And they keep on voting for governments, Tory and Labour, that make it worse.
The reason landlords are selling up and there is now limited supply of rental properties is because the Tories decided to "effectively" tax landlords on turnover and not profit!!!!! It is called SECTION 24!!! Without section 24 rents would plummet and supply would return!!! For the love of God report on this properly, don't just mention in passing that there has been "some" tax changes, this is the key to the whole rental crisis!!!
Correctly so after 25 years of turnover the landlord owns the property with little endeavor.,., landlords profit is eventually owning the home they should be taxed on turnover..can't have your cake and eat it....pure greed..
@@archielogo4463 A: According to the National Landlords Association survey, the majority of UK landlords have interest only mortgages, and therefore are NOT paying off the property and will never own it outright.
B: If landlords are taxed on turnover instead of profit, it means they are not only taxed on profit, but also taxed on losses, which is money they don't have, because it is a loss. As a result many can no longer afford to pay the interest payments on the mortgage and therefore either have to put the rent up, or sell the property, which makes the tenants homeless and further drives up rent due to lack of supply. There are currently 48% less rental properties available now compared to 2020 because of this.
C: If you punish landlords because of an ideological hatred, you can't avoid also punishing tenants. "You can't have your cake and eat it." .....pure ignorance.
Start building trailer parks. They’re fast and relatively cheap to build and the rents can be set at realistic levels to give people the chance to get started in life.
In London almost 80%
£1300 i wish, im trying to find a 2 bed in slough and and average prices are between £1400 - 1700pcm for a 2 bed. Its ridiculous. Im stuck in a 1 bed with my partner and my autistic child , we both work but still cant get anywhere
Not supply and demand . Section 24
Georgie Frost was a regular on LBC.
I pay 40 percent tax on salary 60 percent on Rent rest on grocery 😢 nothing left at the end
Property prices and rents are only going to go in one direction in the UK going forward. Though recently property values have come down some, we will not see the crash many so called experts have been predicting. Purely because demand is so high despite high interest rates.
People say we should build more homes but the sad fact is that even if we streamline the planning process then there's simply no enough capacity in the house building industry to build the 300,000 new homes per year that the government wants. As for Truss's 500,000, she may as well have said 1 million per year as that's just as outlandish. It's a fantasy world and something that will never happen. We just don't have enough qualified brickies, electricians, carpenters, plumbers, gas fitters etc. Everyone has a BSC in economics or Law now. There's so few trades people.
Then we have the problem of the population explosion. It is rumoured that net legal immigration over the last year will see the UK total population go up by 1.1million. All these people need to be housed in a country already over 5 million homes short. This puts even more pressure on a broken housing market.
Then we have the fact inflation is now steadily coming down. This will eventually force the BOE to to bring interest rates down. When that happens, banks will start offering better mortgage deals, (some have already started offering mortgage deals with interest rates fixed lower than the current BOE interest rate). This will encourage more people that have been holding off on moving or buying for the last year to come back to the housing market. This will create even higher demand.
All this will feed into the housing market and by this time next year property prices will have regained everything they've recently lost. This in turn means prices and rents will only be going up.
Sad fact is, housing is another thing government has dithered on for way too long and now it's another thing that's got out of their control just like the costs of HS2. They should have acted many years ago before it became the beast it now is.
I know it sounds selfish but it's just truth that I will be ok. I'm 47, I have my own three bedroom 50s built semi, on which I only have a fairly small amount of outstanding mortgage, my mortgage repayments are only £250 pcm and I will see the value go up which is good for my equity.
I do however, feel sorry for all those buyers and renters that simply can't afford or in many cases even find a place to live at any price. This includes my partner's son and his partner who both have good, well paying jobs but can barely afford to pay thier private rent of £1300 pcm.
I genuinely wish you all good luck.
Trust in Jesus of Nazareth for your daily provision God the Christian God we were taught about in England
Without landlords market will be worse!
When landlords "leave the market " , the house is still there !!!!!!!!
Not really. A lot of them buying property as a long term investment or money laundering cheme. For instance in Belgravia or Chelsea around 40% of property are literally empty and mostly foreign owners not living there
So many people are punching down and resorting back to zenophobia. It seems that confronting tory cruelty and monarchy billions is just not done.
Germany is quite diverse and they nave a much better housing situation.
For lesser peiole it s 2 thirds for just a room..bfore bills food extra meds etc...they the govt should be put in prison the lies corruption and rmbezzlement of country s money. Not houses room... 😢
I WISH I was paying 40-50% of my income on rent, try 65%..
In the 80's a single person without kids could easily rent a 2 bed council house for 40 quid a week. It should of course be the same today but isn't and won't be until people stop electing Labour or Conservative governments. It should be obvious by now that these politicians are no longer working in the best interests of the population and until they are got rid of people in the UK can expect more pain.
Once upon a time, landlords like me could break even. Since the government introduced “Tenants Tax!”, this is no longer possible. Airbnb is the answer! No Tenant Tax!…..
It comes down to not enough social housing thacher sold it all .
absurd to get more and more regulations. regulate your heads.
Loads of homes sitting empty as holiday homes
There keeping them for the illegal migrants the illegal migrants are getting every while are own citizens struggle government are only interested in stealing the taxpayers money otherwise they would put there own citizens first and not be pushed to the back in are own country
The true classic is landlords are leaving the market due to tax conditions which will affect availability.,....are they demolishing the properties they are walking away from lol.. ridiculous...buillders provide houses not charletons that own title deeds ... turnover should be taxed on landlords their mortgage is eventually is for their gain when they own property they lease it shouldn't be classed as a business expense !
The joys of DIVERSITY !
People need air bnb , normal hotels are full of migrants
Airb and b should be banned
Those evil bastards trying to make safe and energy efficent houses...
All thats happened with woman going to work is they bumped up the price of rent so you need two people working full time to pay for it.
Bills should be based off 40hrs worked
How the couple split those hours is up to them.
Money doesn't really represent anything it's not actual wealth. So if woman and men both work there isn't any extra money. Extra money without productivity just means inflation.
My house is owned outright. 🤣
These interviewers don't believe in the free market.
Move somewhere cheaper
A lot of landlords of the left the market but more and more homes are landlord owned ...mmmmm ..go figure...we have fewer landlords owning more property ...your small ex landlords and tenants are still the losers..little sympathy for the prior !
Brexit mess
How is Brexit responsible? This is down to mass immigration and too few homes being built to meet the additional demand as a result. That problem started under Blair when he opened the country to the EU (homes were affordable prior) and it's got worse every year since. The current government has done nothing to stop the level of immigration even though they could, hence the problem of unaffordable housing just gets worse.
@@stumac869 and you don't imagine the future
This was going on long before brexit you fucking plank, it is impossible to build enough properties to keep up with the never ending stream of immigration. It cannot be done.
It is going to get worse, brexit in theory should have actually helped the situation by lowering immigration, instead we are now at levels of immigration that are spelling the suicide of the United Kingdom.
@@nicolass7102you're brain dead.
You wanted out, now you are crowded by indians and pakistani 😂😂 europeans will leve in couple years and you will end up as England India
Simple. Get married and stay married!
How does that help????
So what should be a sacred bond between two romantic partners is now just another financial arrangement to ease one’s way in the property market?
@@sdrawkcabUKwhat planet have you been living on . That all marriages ever were .
A contract of financial wealth and a security of blood lines .
The romance aspect is a modern concept
Unfortunately you need money to go out and find someone and if your struggling with rent you most likely don't have the free cash
Get on a dingi from france and they will give you a house if you are a sertain religion