Rent eating more into take-home pay

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Rents are at their highest level and now account for nearly half of the average British family's monthly earnings.

The average rent has risen to £890 ($1760) a month - 46 per cent of the typical tenant's net income.

In London, rent accounts for more than three-quarters of average earnings.

Landlords in the capital charge an average of £2075 per month, while the typical household brings in £2721 in net monthly income.

A survey shows that average monthly rents rose by 1.6 per cent last month.

The homelessness charity Shelter said people who could not afford to own a property were now struggling to meet rental costs.

Chief executive Campbell Robb said: " "With no cheaper alternative, ordinary people are forced to cut their spending on essentials like food and heating, or uproot and move away from jobs, schools and families."

- Independent