Rising Rental Costs

The monthly cost of renting a home has risen by £221 in three years, according to property portal Zoopla.

The BBC has heard how the pressure has led to some tenants making decisions about jobs based on rent in the area, and parents who are helping their grown-up children with living costs.

However, Zoopla says the rate of rent increases has slowed, particularly in cities.

Analysis by Zoopla, shared with the BBC, suggests that rents for new tenancies are 21%, or typically £221 a month, more expensive than three years ago.

The average monthly rent this spring was £1,283, the figures show.

Some renters are having to move or turn down jobs owing to high rents.

One mum, called Karen, contacted us to explain how her son – a father himself – needed financial help from her and her husband.

Her son is a graduate with a good job, but needed their help because rent was so high. However, she said her own plans to retire meant it was not a sustainable solution.

A head of residential research at one estate agency said, more parents were acting as guarantors when tenancies were agreed. He said the period of high rental growth meant it was inevitable that parents were helping to pay the rent on an informal basis too.

Many young people had been leaving the family home much later in life in recent years because of rent rises.