Money Box Live: The Rising Cost of Rent

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 17 January 2024

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

A typical rental property gets 25 enquires from people who want to view it, according to the property listings site Rightmove. That high demand also comes alongside high prices. The estate agents Hamptons says tenants have been hit with the biggest rise in rental costs in at least a decade. And it's not just tenants feeling the pinch. We look at the impact rising interest rates have had on those owning the homes people are renting.

With Felicity Hannah today to go through your questions and comments we have Richard Blanco from the National Residential Landlords Association, Jasmine Basran - Head of Policy and Campaigns and CRISIS, and Richard Donnell - Head of Research and Insight at Zoopla.

Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle

(First broadcast 3pm Wednesday 20th December, 2023)

Transcript

Click on a timestamp to play from that location

0:00.0	On a winter's night in 1974, a crime took place that would obsess the nation.
0:07.0	It was an extraordinary news story.
0:09.0	The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny,
0:14.0	mistaking her for his wife, then somehow just disappeared.
0:18.0	One of the great mysteries in English criminal history. We're still looking for Lucan.
0:21.6	It's honestly one of the most powerful stories of my lifetime.
0:25.6	I'm Alex von Tundselman.
0:26.6	This is The Lucan Obsession.
0:28.6	Listen on BBC Sounds.
0:32.6	BBC Sounds, music, radio, podcasts.
0:35.6	Hello, rising rents have been one of the biggest stories of the year.
0:40.6	So that's what we're talking about in today's Moneybox Live podcast.
0:44.6	New figures suggest more than one third of young people
0:47.1	are spending much higher proportions of their income on rent.
0:50.2	Our renting increased 50%-ish, and that was just going to be completely unaffordable.
0:55.3	There are new figures out this morning suggesting a record amount has been spent on rent in the UK.
1:00.1	New research shows the value of the UK rental market now stands at more than £86 billion a year.
1:07.0	That's a new record.
1:08.0	We can't save for a mortgage because rent is so high.
1:11.6	Young people spend more of their incomes on rent than any other age group.
1:15.6	Along with cues to view and a surge in no-fault evictions, the rental market isn't working for everyone.
1:22.6	In fact, a typical rental property gets 25 inquiries from people who want to view it. And that high demand comes
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.