New figures reveal the cost of renting a family home in Uttlesford has increased by a quarter

PUBLISHED: 09:18 02 July 2018 | UPDATED: 09:18 02 July 2018

Rental prices have increased by 24 per cent. Picture: ARCHANT

Rental prices have increased by 24 per cent. Picture: ARCHANT

Archant

The cost for a family to rent a home in Uttlesford has increased by 24 per cent over the last four years, new figures have revealed.

Between April 2013 and March 2014 the median monthly rent for a three bedroom family house in Uttlesford was £950, according to figures from the Valuation Office Agency (VOA).

However, by 2017-18 that cost had spiralled to £1,175. The average rise across England over the same period was 15 per cent.

The UK currently has the highest number of private renters in the country’s history, more than one in five households.

In Uttlesford the overall median monthly rent was £950. That’s a rise of 19.5 per cent since 2013-14, when the VOA first began publishing this data.

This is higher than average for the East of England, which is £775.

The cost to rent a one bedroom property is £695. That’s a 20.9 per cent rise on 2013-14.

The median is the middle figure out of a group of numbers, so not distorted by very high and very low rents.

The figures are calculated after the VOA has collected samples throughout the 12 month period. Different years have different sample sizes so annual changes are estimates.

Dan Wilson Craw, from pressure group Generation Rent, said: “Renters are in a bind. If they choose to live where there’s a strong jobs market they might see their pay packet gobbled up by high rents.

“If they live somewhere cheaper, either there’s a risk that it’s harder to find a stable job or they pay for it in higher commuting costs.

“The government must make renting a more secure arrangement, with restrictions on rent rises and unfair evictions, but also look at how to introduce a living rent that ordinary workers can afford.”

Lawrence Bowles, research analyst at the estate agents Savills, said: “The outlook is strong for investors. The current figures show rental values falling, but we’re expecting a return to growth over the next five years.

“However, this is less positive for tenants.”

Mr Bowles explained that rental stock was likely to decrease as the Government reduced tax relief on buy to let mortgages.

WHAT DO YOU THINK? Send your thoughts to editor@saffronwalden-reporter.co.uk.

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Dunmow Broadcast visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Dunmow Broadcast staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Dunmow Broadcast account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

More news stories

Most of us can only dream of owning a car worth over a quarter of a million pounds.

The Helena Romanes School and Sxith Form Centre in Dunmow will host an evening of spiritual mediumship on September 28.

Prayers for sunshine and cloudless skies were answered as thousands poured into Dunmow for the carnival on Saturday.

More than 130 houses could be built in Great Canfield under plans submitted to Uttlesford District Council (UDC).

Digital Edition

Image
Read the Dunmow Broadcast e-edition E-edition

Most read stories

Newsletter Sign Up

Dunmow Broadcast weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy