20-somethings spending third of income on rent
John Healey MP, Labour’s Shadow Housing Secretary, responding to new research from Hamptons showing the high cost of renting for young people, said:
“Renters have been hit hardest by the housing crisis, but for nine years, the Tories have refused to act.
“The next Labour Government will rebalance the rental market and give renters the rights they deserve, with control on rents, indefinite tenancies and new legal minimum standards.”
Notes to editors
New research from Hamptons International finds the average 21-to-29-year-old now spends 34% of their pre-tax income on renting a room in a house share.
At last year’s Labour Party conference, John Healey set out the Party’s plans to rebalance the private rental market: https://www.bbc.co.uk/news/uk-politics-45621986.
In March this year, Mr Healey set out more detail on the Labour’s plans for German-style, ‘indefinite’ tenancies for private renters: https://labour.org.uk/press/labour-commits-indefinite-tenancies-private-renters/.