Young People Driven Away From Guernsey by High Prices

Young people driven away from Guernsey by high prices

A new report says islanders are concerned about rising living costs and finding affordable property.

Young people spending nearly half their income on rent as social housing gets scarcer

Young adults in the Netherlands are spending an increasing share of their income on housing, driven largely by a shortage of social rental and affordable homes, according to recent research by ING. Private rental prices have risen faster than young people’s incomes, forcing many to allocate nearly half their earnings toward rent.

In recent years, young people have increasingly started living in private rented homes and are spending a larger part of their income on rent. This is because finding social housing or owner-occupied housing has become increasingly difficult for them due to the housing shortage. Rents in the private market have also risen faster than the incomes of young people, ING reports after research.