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Highlights
- Londoners are paying a rent of £1,430 on average, which is about 40% of their average pay.
- East Midlands and West Midlands have the utmost affordable rents considering salaries across the UK.
- In England, the average monthly rent stood at £730, corresponding to 26% of the typical domestic income of £2,825 a month.
Tenants in London are paying roughly half their rent wages while the capital remains the costliest place to reside in the UK. Londoners are paying a rent of £1,430 on average, which is about 40% of their average pay.
In contrast, the latest data released by the Office for National Statistics (ONS) has shown that private renters may anticipate spending 26% of their overall wages on a normal house in the rest of England.
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Comparatively, rents are even lesser in Northern Ireland and Wales, with renters spending approximately 23% of their pay. However, East Midlands and West Midlands have the utmost affordable rents considering salaries across the UK. The average rents stand respectively at 22% and 21% of real pay.
In England, the average monthly rent stood at £730, corresponding to 26% of the typical domestic income of £2,825 a month. Whereas in Wales and Northern Ireland, rents stood at around £550 and £600 a month, corresponding to 23% of the typical domestic income there.
Amid the soaring rents, Kalkine Media® explores a few LSE-listed real estate stocks and reviews their performance.
AEW UK REIT plc (LON: AEWU)
As the market opened on Tuesday at around 8:00 AM (GMT), the shares of the real estate investment trust, AEW UK REIT, were trading at GBX 96.80. The AEW UK REIT plc’s returns at the time stood at -12.61% and -12.61% on a one-year and YTD (year to date) basis, respectively. As of 20 December, the market capitalisation of the REIT stood at £153.36 million, along with an EPS (earning per share) of 0.14.
NewRiver REIT Plc (LON: NRR)
As the market opened on Tuesday at around 8:00 AM (GMT), the shares of the real estate investment trust, NewRiver REIT, were trading at GBX 81.00. The company’s returns at the time stood at -10.91% and -12.73% on a one-year and YTD basis, respectively. As of 20 December, the market capitalisation of the REIT stood at £250.94 million, along with an EPS of -0.09.
Empiric Student Property plc (LON: ESP)
As the market opened on Tuesday at around 8:00 AM (GMT), the shares of the REIT focused on premium student accommodations, Empiric Student Property plc, were trading at GBX 80.40. The company’s returns at the time stood at -2.73% and -4.77% on a one-year and YTD basis, respectively. As of 20 December, the market capitalisation of the REIT stood at £485.70 million, along with an EPS of 0.05.
