Monday, October 28, 2024

East of England’s least affordable places to rent revealed

Must read

The least affordable district in the region was Hertsmere in Hertfordshire, where the average private tenant spent 36.6% of their income on rent.

At 19.6%, Fenland in Cambridgeshire and East Suffolk were the region’s most affordable districts.

Mr Gallop, who runs the lettings team at Essex and Suffolk-based Palmer and Partners, said: “A lot of people are still spending a third of their gross salary on rent.

“If they’re not, it’s because they’re renting something that’s too small. If I list a property at 17:00, by 09:00 the following morning I’ll have 30 to 40 inquiries.”

Many landlords had recently sold their properties, he added.

Latest article