Rising Rental Costs Prompt Epping Forest Tenants to Consider Relocation

Residents of the area identified as the least affordable for renting in Essex have indicated that increasing expenses are leading them to contemplate relocating, potentially to distant locations such as the Isle of Wight. According to the Office for National Statistics, Epping Forest was the sole district within Essex during the previous financial year where private rental costs surpassed one-third of tenants’ gross monthly earnings. Kordian Lück, a shop manager residing in Epping, informed BBC News that his one-bedroom flat’s rent consumes half of his income. “I feel like every year [rent] is getting more and more, and that’s on top of the bills,” he stated. He mentioned that he might contemplate relocating to the Isle of Wight or Norfolk, citing various factors, with affordability being one. “I’m looking for a bit of a slower pace of life and work-life balance. I don’t want to spend 12 hours a day working.” Katie Collins, a carer who has resided her entire life in Roydon, a village within the borough, stated that increasing rental prices were prompting her to seek accommodation in another part of Essex. “Our rent at the minute is £1,400 a month, which is pretty much most of my wages and not leaving much for food and everything else.” “It’s set to rise again next year to the point where we’ve had to say to our landlady we can’t afford to rent our house anymore.” Akeem Callum, a chef, indicated that while he could secure his own residence, he opted to rent with his mother to economize. “I’m quite happy to support her, like how she supported me as a baby. I’m passing that back to her,” he remarked. “I come home at ridiculous times, so it’s just perfect for me here.” They reside together in Loughton, another town within the borough, situated three stops from Epping on the Central line. Mr. Callum noted the convenience of commuting to central London from there. Eight years prior, tenants across 10 of Essex’s 14 districts were spending more than one-third of their gross monthly income on rental payments. During the 2022-23 period, Tendring was identified as the county’s most affordable borough, with renters dedicating slightly more than a quarter of their income to rent. County-wide, the proportion of income spent on rent reached its lowest point in the last nine financial years, with Epping Forest being the sole area exceeding 33%. For the 2022-23 financial year, it ranked as the second most unaffordable location for renters in the east of England, surpassed only by Hertsmere in Hertfordshire, where inhabitants paid 36% of their income towards rent. Despite an increase in private rental costs, the Office for National Statistics reported that incomes had grown at a quicker pace. Barrie Blostone, who possesses three buy-to-let properties in the region, commented that the current period presents challenges for both property owners and renters. “Landlords are already pulling out of the market and trying to sell properties. In East Anglia, for every rental that’s advertised, there are about 20 people looking to get in to those houses.” For updates on Essex news, follow BBC Sounds, Facebook, Instagram, and X. Copyright 2024 BBC. All rights reserved. The BBC bears no responsibility for the content found on external websites. Information regarding our external linking policy is available for review.