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Avoid rent trap
1:50pm Thursday 31st January 2013 in News
RENTS in the south west are rising by an average of £155 a year, leaving many in a “rent trap” with little or nothing left to save for a home of their own, says housing charity Shelter.
The Rent Trap, a new report from the housing charity, analyses Government figures to find that average private rents in the south west rose by 2.0 per cent from 2011 to 2012, equivalent to an increase of £155 in a year on a typical rented home.
Rents in the Cotswolds rose at the fastest rate in the south west, equivalent to an increase of £412 in a year.
In Swindon, rent rose 3.1 per cent, or £216.
The report finds that high rents leave many renters with so little left over that they struggle to save for a deposit on a home of their own.