Cost of renting is squeezing resort salaries

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Tenants in Lancashire are spending at least a quarter of their salary on their monthly rent, latest figures show.

The National Housing Federation has revealed Trafford is now the most unaffordable place in the North West – with rents swallowing up 34 per cent of people’s hard-earned wages.

Blackpool is not far behind, with renters spending more than a third of their salary on rent before they’ve covered any other bills.

This follows official figures showing that private renters now spend twice as much of their income on their housing costs as homeowners do.

The cost of renting from a private landlord is making it increasingly difficult for those trying to save to buy their own home, and for families.

The average private rental across Lancashire is now close to £500 per month.

The National Housing Federation is warning unless the shortage of affordable homes is addressed, rents will continue to rise.

Katie Teasdale, North West external affairs manager at the National Housing Federation, said: “Private renters today are getting a raw deal.

“Unless we build the affordable homes we desperately need, ordinary working families and young people will continue to struggle to pay their rent.”