Latest news with #ChrisHutchinson
North Wales Live
5 days ago
- Business
- North Wales Live
True cost of rent as many people spend half their salary on it
Two-fifths of people spend nearly half their salary on rent. The average tenant now forks out more than 40% of their take-home salary on rent, with one in seven spending more than half their pay packets on rent. The survey by tenant and landlord services provider Canopy revealed one in 20 renters are forced to pay more than 80% of their salary each month on housing. Typically, spending 40% of take-home salary is considered the very upper limit of affordability, with many facing this financial predicament. On average, tenants now spend £846 per month on their share of the rent - up from £822 this time last year. In the first three months of 2025, tenants spent 5% more of their salary on rent than this time in 2024, with rental affordability apparently rising across the country. Canopy analysed data from nearly 100,000 individual renters, measuring average take-home salary of employed tenants against their share of rental costs creating a rent-to-income ratio. London topped the list of priciest places to live with the average Londoner spending 47.3% of their salary on rent. Five London boroughs see the average tenant spending more than 50% of their take-home wage on rental payments. Enfield (55.5%) is the least affordable London borough, with Haringey (52.9%), Brent (51.5%), Redbridge (51.5%), and Barking and Dagenham (50.8%) all similarly pricey. Hot on London's heels was Brighton with 46.2% followed by Oxford with 45.2%. At the other end of the scale, and country, Doncaster is crowned the city with the best rental affordability, with tenants spending less than a third (31.8%) on accommodation. Hull (32.2%) and Durham (32.3%) slugged it out for the next coveted spot - being ranked second and third respectively. While Doncaster is the cheapest city, the cheapest local authority area is Chesterfield in the East Midlands. Tenants there spend just 29.1% of their take-home salary on the rent, leaving more than 70% of their money free for other essentials and fun. Gen Z are taking the biggest hit to their wallets, with the average younger tenant spending almost half (48%) of their wage on rent. Chris Hutchinson, CEO at Canopy, said: "Our latest index shows that rent affordability continues to elude many, with a large portion of UK renters now spending more than 40% of their take-home salary on rent. Wage growth continues to be slow and those spending a higher proportion of their salary on rent can be expected to struggle to pay essential bills and have little left to spend on hobbies and leisure time. "The problem is that rising interest rates, increased regulation and a growing tax burden are all making property investment less attractive. This makes it more likely that more landlords will exit the market altogether. "The more landlords that leave the market will also make it more likely that rental affordability will worsen, with fewer properties to meet demand."
Wales Online
5 days ago
- Business
- Wales Online
True cost of rent as many people spend half their salary on it
True cost of rent as many people spend half their salary on it A new report has found how much rent now costs and who is spending the most For rent sign in front of house Two-fifths of people spend nearly half their salary on rent. The average tenant now forks out more than 40% of their take-home salary on rent, with one in seven spending more than half their pay packets on rent. The survey by tenant and landlord services provider Canopy revealed one in 20 renters are forced to pay more than 80% of their salary each month on housing. Typically, spending 40% of take-home salary is considered the very upper limit of affordability, with many facing this financial predicament. On average, tenants now spend £846 per month on their share of the rent - up from £822 this time last year. In the first three months of 2025, tenants spent 5% more of their salary on rent than this time in 2024, with rental affordability apparently rising across the country. Canopy analysed data from nearly 100,000 individual renters, measuring average take-home salary of employed tenants against their share of rental costs creating a rent-to-income ratio. London topped the list of priciest places to live with the average Londoner spending 47.3% of their salary on rent. Five London boroughs see the average tenant spending more than 50% of their take-home wage on rental payments. Enfield (55.5%) is the least affordable London borough, with Haringey (52.9%), Brent (51.5%), Redbridge (51.5%), and Barking and Dagenham (50.8%) all similarly pricey. Hot on London's heels was Brighton with 46.2% followed by Oxford with 45.2%. At the other end of the scale, and country, Doncaster is crowned the city with the best rental affordability, with tenants spending less than a third (31.8%) on accommodation. Hull (32.2%) and Durham (32.3%) slugged it out for the next coveted spot - being ranked second and third respectively. While Doncaster is the cheapest city, the cheapest local authority area is Chesterfield in the East Midlands. Tenants there spend just 29.1% of their take-home salary on the rent, leaving more than 70% of their money free for other essentials and fun. Gen Z are taking the biggest hit to their wallets, with the average younger tenant spending almost half (48%) of their wage on rent. Chris Hutchinson, CEO at Canopy, said: "Our latest index shows that rent affordability continues to elude many, with a large portion of UK renters now spending more than 40% of their take-home salary on rent. Wage growth continues to be slow and those spending a higher proportion of their salary on rent can be expected to struggle to pay essential bills and have little left to spend on hobbies and leisure time. "The problem is that rising interest rates, increased regulation and a growing tax burden are all making property investment less attractive. This makes it more likely that more landlords will exit the market altogether. "The more landlords that leave the market will also make it more likely that rental affordability will worsen, with fewer properties to meet demand."
Perth Now
25-04-2025
- Entertainment
- Perth Now
Poms stumped why iconic Aussie beer is more myth than truth
A British couple who are travelling through WA have discovered that a product which they were excited to witness in its home environment may be more myth than truth. Chris Hutchinson and his wife Tamira were confused when they went to a bottle shop and discovered that Fosters was in the imported section. 'We thought that Australians drink Fosters, because in the UK, that is what it is marketed as — the Australian beer,' Mr Hutchinson said in a TikTok video. If you'd like to view this content, please adjust your . To find out more about how we use cookies, please see our Cookie Guide. 'I think the slogan is 'think Australian drink Australian'' he continued. 'But it seems to be in the imported section, and I've just asked someone and apparently Australians don't really drink Fosters. It's really weird.' Fosters is brewed in Australia by Carlton and United Breweries but has been owned by Japanese brand Asahi since 2020. Fosters Credit: @mcrichardlofish / Instagram Followers flooded the comments section on the video to confirm that the Australian relationship with Fosters wasn't the stereotype it was made out to be overseas. 'Fosters is the biggest and longest joke we have played on the world,' one person wrote. 'I'm a 31yo Aussie and I don't think I've ever actually even seen a fosters in person my whole life 😂,' another said. The revelation of Fosters not being an Australian-owned product is not a new one. 'Foster's lager, as we know it in Britain's pubs and supermarkets, is an Australian brand; it is not an Australian beer. 'Australian for lager' it may claim to be, but 1.2bn pints of the amber nectar a year are brewed in Manchester, not Melbourne,' a Guardian article stated in 2011. Despite the lack of Fosters, the family of five are loving their trip around Australia and admit it's made them re-evaluate their future. 'It's absolutely blown us away, being here in Perth,' Mrs Hutchinson said in a TikTok video on Thursday.
News.com.au
24-04-2025
- Entertainment
- News.com.au
Brits stumped after uncovering myth about Aussies drinking habit
A British man and has wife have realised a slogan about a popular product they have been told all their lives may not be as true as they thought. Chris Hutchinson and his wife Tamira are currently in Western Australia, but are originally from the UK. The couple were stumped when they went to a bottle shop and discovered Fosters in the imported section. Fosters is brewed in Australia by Carlton and United Breweries. CUB has been owned by Japanese brand Asahi since 2020. 'We thought that Australians drink Fosters, because in the UK, that is what it is marketed as — the Australian beer,' Mr Hutchinson said in a TikTok video. 'But it seems to be in the imported section, and I've just asked someone and apparently Australians don't really drink Fosters. It's really weird.' Mrs Hutchinson chimed in and said they had been 'living a lie'. Instead, Mr Hutchinson walked away with cans of Great Northern, Carlton Mid and VB. Last year, Carlton Dry 3.5 per cent that was named Australia's best selling new beer, according to Drinks Trade. Many people flocked to the Hutchinsons comment section to confirm that Australians and Fosters wasn't the stereotype it was made out to be. 'Fosters is the biggest and longest joke we have played on the world,' one person commented. Another said: 'No one in Australia drinks Fosters.' 'I'm a 31yo Aussie and I don't think I've ever actually even seen a fosters in person my whole life,' one added. One person said: 'When I went to Sydney years ago I asked for a pint of Fosters and the barman said they don't drink it, just import it, their drink is VB which was lovely.' 'I don't drink beer but I can honestly say I have never ever seen anyone drink Fosters in Australia,' one said. The idea that Fosters is a common beer drunk in Australia is not a new one, with a BBC article from 2013 stating that the beer was marketed to them as the 'Australian lager'. 'The reality is that if you walked into a bar in Australia and ordered a Foster's, you might well receive some quizzical looks — it's a long way down the popularity list and almost unheard of in some parts of the country, making a mockery of slogans such as 'Think Australian, Drink Australian',' the article said. 'It's brewed under licence in Britain, its biggest international market, where it ranks as the country's second most popular lager.' Two years ago, an American took to Reddit and asked if they would cop flack if they drunk Fosters while in Australia — and if there were any American beers that were popular Down Under. 'Yeah. Australians take the p**s out of Foster's. Australia has an excellent, huge local brewing craft beer industry, so mass produced exported beer is often considered subpar,' one said. Another said: 'VB and XXXX are still popular, but only tradies drink them really. Otherwise, similar to coffee actually, many just go for locally made sh*t and avoid American stuff at all costs.' 'You'll struggle to find Fosters in Australia. It's really an export beer; absolutely nobody drinks it here. Things like Bud can be found, but they aren't popular at all,' another added.
Yahoo
09-02-2025
- Business
- Yahoo
Two Sussex local authorities in UK's five most expensive for renters
Two local authorities in Sussex have been named in the UK's five least affordable for renters. According to Canopy's 2024 end-of-year Rental Affordability Index, Adur and Lewes are among the most expensive local authority areas for tenants. Adur tops the list nationwide, with the average tenant spending 72.6 per cent of their salary on rent. This is attributed to the low average salary of £21,482 per year, with monthly rental costs averaging £927. The 72.6 per cent figure is significantly higher than the second most unaffordable area, South Staffordshire, where tenants spend 56.8 per cent of their income on rent. Lewes ranks fifth on the list, with renters spending 52.1 per cent of their salary on rent on average. The average salary in Lewes is £25,271, with rental costs of £1,072 per month. Chris Hutchinson, CEO at Canopy, said: "On average, renters are now spending 35.7 per cent of their take-home salary on rental payments. "This figure alone paints a sobering picture of the financial strain faced by tenants, but the situation becomes even more severe in certain areas. "The shortage of affordable rental properties, coupled with rising living costs, leaves many renters with little left to save or spend on other necessities. "For those on lower incomes, this creates a precarious situation, with many households one unexpected expense away from financial crisis." Mid and East Antrim in Northern Ireland was named as the most affordable local authority, with tenants on average spending only 22.9 per cent of their wages on rent.
