Overview

• In 2024 renters in England paid 36.3% of median household income on rent, up from 33.1% in 2023
• Private renters in London spent 41.6% of their earnings on housing last year and in Kensington and Chelsea nearly three quarters of income went on rent
• Bristol, Bath, Brighton and commuter towns such as Sevenoaks and Watford have also crossed the ONS 30% affordability threshold while Wales and Northern Ireland stayed below it
• Landlords are selling up in response to higher mortgage rates, increased living costs and tougher regulation, reducing available rental stock
• Planning approvals have fallen and high building costs—especially in London where meeting annual housing targets costs about £2.2 billion—are slowing new home construction