Renters can’t afford to buy

Prospective first time buyers in the UK are being squeezed out of the property market, according to a survey released yesterday. Over four in 10 (42 per cent) of renters are unable to save for a deposit, while just under a third (31 per cent) are spending over half their post-tax income on rent, the website spareroom.co.uk found. “Sky-high house prices inflict a double whammy of pain on renters and would-be first time buyers,” said Duncan Stott of the Priced Out campaign group.