Video: Fears of ‘rent trap’ for students amid housing crisis

By Thomas Carter, Floyd March, Jasmine Lascelles and Ramla Dirie

Concern is growing among Leicester students as the national housing crisis continues, leading to many falling victim to a ‘rent trap’.

According to a recent study conducted by the think tank Resolution Foundation, there is a possibility that one in three young people face living in privately rented accommodation for their entire lives.

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The study states that 40 per cent of “millennials” (those born between 1980 and 1996) live in rented housing by the age of 30, which is twice the amount for those that belong to “Generation X” (born between 1965 and 1980).

Property Manager Hannah Brown of Lander Lettings, a student accommodation provider in the city centre, said: “When it comes to buying a house, it can be difficult for young people to take the first step and get on the property ladder.

“House prices are high, and there aren’t many affordable homes.

“It is difficult for young people to find property and also save money while renting.”

Of any major city in the UK, Leicester has the fastest-rising property prices with an average increase of 4.8 per cent over the past year (according to Zoopla), succeeding the national average of 1.9 per cent.

To gain the perspective of students, a Leicestershire Press team went on to De Montfort University campus, questioning prospective house-buyers on their views surrounding the ‘rent trap’.

When asked about realistic predictions for buying property, Deputy Station Manager for Demon FM and second-year DMU student Tom Fair said: “I’m probably going to be living at home with my parents.

“I have a year left on my course, and I expect my first mortgage at 30.”

If any students have questions or concerns regarding accommodation, they can contact the DMU Students’ Union for advice and support, by emailing dsuadvice@dmu.ac.uk or calling 0116 255 5576.

Comments

  1. Reblogged this on Tom Carter Journalism and commented:
    Had a fantastic news day working with a team of post-graduate students, and here is our published article about young people facing a ‘rent trap’.

    Like

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