Now may be the right time to rent!

Now may be the right time to rent!

12th Oct, 2018

Now may be the perfect time to rent a property, as the BBC has revealed where the cheapest areas for young people in Huddersfield and Yorkshire are.

For a house to be deemed as ‘affordable’ for a tenant, it is said that it should cost no more than 30% of a person’s monthly salary – anything above this is considered ‘unaffordable’.

So, the recent news that Huddersfield postcodes are amongst the most reasonably priced in the country is fantastic to hear!

For those aged between 22 and 29 who looking to rent a two-bedroom property, it is worth looking in the HD1 (town centre), HD4 (Newsome), HD7 (Colne Valley), HD6 (Brighouse), HD5 (Dalton and Kirkheaton) and HD3 (Lindley, Salendine Nook and Outlane) areas, as they are all within the ‘affordable’ zone.

In fact, the only two HD postcodes which fell outside of this bracket were HD8 (Lepton, Kirkburton, Shepley, Emley, Skelmanthorpe and Denby Dale) and HD9 (Holme Valley), which were classified as the most expensive zones for rent. It would cost on average £554-£560 per calendar month – but this still leaves a wide variety of houses to choose from!

At the opposite end, the cheapest areas of them all are HD2 and HD1, where the rent would cost 29% of an average young person’s salary – roughly £470.  

So how affordable are rents in Huddersfield compared to the rest of the UK?

When compared to the closest city, Leeds, rental prices in that area are deemed as ‘extremely unaffordable’, costing a significantly higher 56% of a young person’s salary. The country’s least affordable – which will probably come as no surprise to the majority of us – was in Westminster, London where it would cost a whopping 156% of a typical salary to rent a meagre one-bedroom flat.

Looking at the stats you will probably agree that Yorkshire could be the ideal place to find a reasonably priced home!

But what counts as ‘unaffordable’?

The above labels are based on recommendations from housing organisations, such as The National Housing Federation and Shelter. And we know that each individual is different – as well as their yearly salary – so some of the areas that are labelled as ‘unaffordable’ may well be within your price bracket. In other words, don’t rule them out!

If you are on the lookout to find the prefect home to rent, feel free to get in touch with one of our reliable lettings team and we’ll be happy to help!

View all posts by Amy Wray

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