Despite all the 'noise' about booming rents, rent controls and a decade where house prices have surged and then busted following the financial crisis; private sector rents as a proportion of average earnings have remained remarkably stable.
The proportion of earnings accounted for by private sector rents has fallen in the band between 31% and 37% since the 4th quarter of 2004 and has averaged 33%.
This means that landlords stand to gain from an improving economy where average earnings rise above the rate of inflation.
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