Ren­ters pay for hol­i­days not homes

Yorkshire Post - Property - - PROPERTY -

HOME own­er­ship is out of reach for 42 per cent of ten­ants, who say they can­not af­ford to save for de­posits, ac­cord­ing to Spare­Room.

Nearly one-third of ten­ants spend more than half their take­home pay on rent.

Ad­di­tion­ally, about 35 per cent of those manag­ing to save for de­posits have to dip into their cash, ei­ther reg­u­larly or to pay for hol­i­days. Among the un­der­30s, 60 per cent have used their sav­ings pots this way.

Matt Hutchin­son, of Spare­Room., says: “A sig­nif­i­cant pro­por­tion of the peo­ple we polled ex­pect to live in rented ac­com­mo­da­tion for at least five years, and many be­lieve it will be much longer than that.”

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