Rents squeeze on up
HOUSEHOLDS on low incomes are being left particularly exposed to rental increases as housing costs eat up a growing proportion of their money, analysis by the Institute for Fiscal Studies (IFS) has shown.
It said “substantial” cuts to housing benefit in recent years have led to rental payments now using up an average of 28% of the non-housing benefit income of low-income private renters. This is up from 21% in the mid-1990s. Those on low incomes were defined as being in the bottom 40% of the income distribution in their area.