Suffolk renters feel pinch as at least 30% of salary goes on living
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Suffolk renters are seeing up to 50% of their monthly salary going on rent - and say they worry about further cost-of-living rises or being priced out of owning a home.
It follows a recent study by SpareRoom which found 80% of people in East Anglia spend 30% or more on their rent, and almost one in three (29%) are spending 50% or more.
The website surveyed more than 11,000 people and reported women are the hardest hit, with more than 85% spending 30% compared with 75% for men.
It makes East Anglia is the fourth highest region in the UK.
Gemma Rayner, 34, who rents her home in Rendlesham, said: “I just find it really worrying to be honest, rent is constantly increasing, and now with the massive hikes in utility bills and fuel, it’s adding a lot of financial stress.”
Lauryn Sims, 23 from Foxhall, said: "It’s ridiculous. The cost of living for someone like me who is young and would love to own a house soon, is just getting too much.
“I probably won’t be able to afford a mortgage because I’m spending so much of my income on rent and bills. It’s a worry when it comes towards the end of the month to just go out with my friends because I struggle to have any disposable income.”
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Jonathan Webb, director at Keystone Independent Estate Agents in Ipswich, said a reason for why East Anglia ranked so high is the increase in buy-to-let landlords coming onto the market.
He said: “You’ll find landlords are buying better quality homes than they have done before, which means that it is demanding higher rent because it is a better-quality property.
“East Anglia is also a very pretty and desirable area. We noticed it with the pandemic. It made people think about their location and what rural areas have to offer. Ipswich as well, has seen a lot of regeneration, there’s a lot more going on now.
“A lot of people with higher paying jobs from London for example, are moving here because pf the surroundings, commuting to London one day a week, and then working from home the other four.”