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Bristol one of the UK’s ‘least affordable’ cities for renting
A new survey on rent affordability has Bristol placed towards the bottom of the list.
Credit providers for renters, Canopy investigated various indicators to reveal that Bristol is the eighth on the list of top ten cities that are least affordable to rent.
Bristol has a rent-to-income ratio of 40.9 per cent, which is just about seven per cent less than the least affordable city on the list, Bournemouth.
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According to Canopy, an average tenant in Bristol – one of “least affordable” cities in the UK – spends £789 for rent from an income of £25,285 per annum after tax.
According to the survey, one in five tenants are spending over 19 per cent of their take-home salary on rent in the UK – photo: Martin Booth
CEO at Canopy, Chris Hutchinson said: “Our latest data shows stark differences in rental affordability across the UK, with some areas facing extreme conditions.
“The rental market is in a fragile state. While it’s encouraging to see efforts being made to relieve pressure on tenants, any regulatory changes could inadvertently push landlords out of the market, shrinking the supply of properties.
“Most landlords are already adhering to the spirit of the Renter’s Reform Bill, but the full consequences remain uncertain.
“The Government must tread carefully, so as not to dis-incentivise landlords further, which could ultimately lead to additional rental price pressure, deepening the affordability crisis.”
Also featured on the list are Bath, Reading and Southhampton with a ratio of 43.7 per cent, 41.2 per cent and 40.8 per cent respectively.
The full list is as follows:
- Bournemouth: 47.2%
- Oxford: 46.4%
- Brighton: 46.0%
- London: 44.5%
- Bath: 43.7%
- Portsmouth: 43.4%
- Reading: 41.2%
- Bristol: 40.9%
- Southampton: 40.8%
- Edinburgh: 40.3%
Main photo: Karen Johnson
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