RENTERS in Poole have good reason to feel cash-strapped – it’s the least affordable place to live in the UK.

On average, residents are spending a record 26.8 per cent of their income on rent, making it even less affordable than London.

They’re channelling £398 of their monthly income, £1,482, into a flat share, according to easyroommate.co.uk statistics.

Easyroommate director Jonathan Moore said: “Demand for rental accommodation is highest in London and its satellite towns, where house prices are inflated and out of the reach of first-timers.

“But although renters in London face by far the steepest rents, this is cushioned somewhat by higher personal incomes.

“Flatsharers in Poole are not so lucky and face above average rents with below average net incomes.”

Londoners have the highest average wages of £1,985 month, but are paying out £520 on somewhere to live, the website’s survey of the 60 largest towns and cities shows.

Bournemouth is the 10th least affordable town, with people spending £370, or 23.8 per cent, of their £1,665 income on a place to stay.

In the most affordable rental town, Newport, renters cough up just £280 a month, representing 18.2 per cent of their income.

The average UK room rent is £365 per month.

Mr Moore said: “At a time when inflation is running wild, the cost of renting is escalating, placing a growing number of renters under financial stress.

“Flat sharing is the cheapest option for renters looking to trim their monthly outgoings, but even this is feeling the effects of surging demand, and rents are rising as a result.”

The UK’s ‘sluggish’ economic recovery and a ‘mortgage famine’ means that rent increases will continue to outstrip salary growth for the foreseeable future, he added.