Tenants are facing a financial crunch as annual energy bills soar to match an extra month’s rent, according to findings by lettings agents Hamptons.
Gas and electricity bills have hit their highest level in seven years, averaging £1,331 annually, only £1 less than the average monthly rent in the UK.
While a recent drop in the energy price cap offers some relief, tenants are still grappling with significantly higher costs compared to a decade ago, with rents up by 54% and energy bills by 46% over the past ten years.
According to the report, tenants are now shelling out £5,993 more annually in rent and energy bills compared to a decade ago.
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