Tenant’s bills are expected to hit a record £63bn this year, driven by strong rental growth and younger Generation Z tenants joining the market, according to Hamptons.
This figure is a 2% rise on rents last year, and by comparison, first-time buyers spent £84bn getting their feet on the property ladder in 2021, says the estate agent’s Monthly Lettings Index for June.
Tenants across the country paid a total of £31bn during the first six months of this year, a 2% rise on the same period a year ago.
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