UK tenants paid record £50bn in rents in 2017

Tenants paid a record £51.6bn last year in private sector rent, more than twice the total bill in 2007, according to estimates by Countrywide, the estate agent.

The increase, driven by rises in rental prices and in the number of people renting in Britain, highlights the changing shape of the property market as more young people are forced to rent because they cannot afford to get on the housing ladder.

Last year’s figure compares with £49.7bn in 2016 and £22.6bn ten years ago, Countrywide said.

Click here for the full Times article (£)

Click here for the full Guardian article