Nottingham estate agents have welcomed the government’s new housing strategy for those struggling to get onto the property ladder.
Prime Minister Theresa May will focus more on people who rent their homes when she unveils the Conservatives’ housing strategy.
She hopes to make renting “fairer” for tenants to make all types of homes affordable for renters. The number of people living in private rented accommodation has doubled in the last 15 years.
The average couple spend around half of their salary on rent each month. Estate agents Belvoir predicts a 15% rise over the next three years. Around six million households nationally are renting because they cannot scrape together the deposit to buy a property.
An inquiry into the nation’s housing crisis revealed that almost two-thirds of UK tenants do not expect to afford a mortgage in the next five years. This includes all tenants from families to students and migrant workers.
The Prime Minister has promised to make rent more affordable for those who are unable to jump onto the property ladder.
Estate agents in Nottingham say that it is a positive all-round move for people trying to get on the property ladder.