Via City AM, from Landbay's Rental Index, December 2015:
Key findings
* Average UK rents climb 3.8%, twice as fast as wages...
Table 4: Top Ten 2015 Rental Fallers
1. Aberdeen City - annual rental change minus 12.8%
2. Aberdeenshire - annual rental change minus 10.2%
In other words, a year ago, half of tenants' wages went on tax and essentials excl. rent and the other half all went on rent. Their wages went up by 1.9%, tax and the cost of essentials remained approximately the same (price inflation +/- zero) so the balance, which all goes into rent, went up twice as fast.
Aberdeen wages are inflated by high wages paid in oil and gas industries, employment and wages in North Sea oil and gas have taken one hell of a knock over the past year, so rents have fallen disproportionately.
Simples. Basic maths and logic.
Funny how the Homeys happily trot out the statistics to back up the law of rent/ wages while simultaneously denying that the law of rent/wages exists.
Debate Magazine
