The amount of people in the United Kingdom that pay rent on their accommodation stands at about 10 million, roughly double the amount since year 2000.
Approximately 17 percent of the UK’s households rent from the private sector, an increase from the 8 percent level through much of the 1990s.In London, the proportion of the population that rent privately has more than doubled from below 10 percent in 2001 to over 20 percent in 2011.
The increase in private renting has accelerated since the start of the financial crisis in 2008, and some experts now think that the pattern will continue to rise in the future due to housing shortages and the mortgage drought and rising costs.
This reflects a reversal in the trend of home ownership, which hit a peak of 69 percent of all UK households in 2001, but has currently dropped to below 65 percent.
The average household debt in Britain stands at £54,000, nearly twice the level seen a decade ago, according to a study by the Center for Social Justice (CSJ).
The CSJ also found that about 3.9 million British families lack enough savings to cover their mortgage or rent for more than a month.
It has been revealed that over 5,000 households are losing their homes every year because they cannot make their payments.
The news about soaring UK personal debt comes as Britons are struggling to cope with the ever rising cost of living.
The total personal debt in Britain has reached £1.43 trillion, almost as high as the country’s national economic output.
The government is spending £24 billion of taxpayers money on housing benefit most of which is going to landlords rather than towards building much needed homes. This is such a huge economic and social striking plaster and in no way a solution.
England’s distorted economic recovery is pushing an extra 310 working people a day on to housing benefit, and the rising rents in growth areas such as London are pushing more and more working people over the edge, forcing one working person every five minutes to turn to the Government for housing benefit to keep the roof over their heads. While the housing market in areas of growth is overheating, the story is very different in many other parts of England where green shoots are nowhere to be seen. High unemployment and low wages means families are desperately struggling to make ends meet.
I end this post with some real home truths, truths that should bring home the reality of what is going on in Britain today of a government who are following and implementing a very right wing ideological agenda which only Thatcher would be proud of if only she could crawl out of hell’s blast furnace.
The Bedroom Tax
Two thirds of households affected by the bedroom tax cannot find the money to pay their rents and 66% of residents in social housing hit by the tax are in rent arrears.
More than one in seven households (15%) received an eviction risk letter by October 2013 are were in real danger of losing their homes.
Waiting list and Numbers
4.5 million people are on a waiting list for social housing in England.
1.8 million families are on a waiting list for social housing in England.
48,510 and rising is the number of registered homeless families in England.
65% increase in private sector rents since 2001.
Increase in average earnings 35% since 2001
29 is now the average age of a first time buyer and 37 with the helping hand of parents.
2.5 billion is the estimated annual health costs of poor housing.