Only one in 20 newly listed private rental properties on Zoopla in the first quarter of 2023 was affordable typically for housing benefit or universal credit recipients, according to the Institute for Fiscal Studies (IFS).
Only one in 20 newly listed private rental properties on Zoopla in the first quarter of 2023 was affordable typically for housing benefit or universal credit recipients, according to the Institute for Fiscal Studies .
“Our analysis should be thought of as most representative for a family looking to rent a new property – though again, in the long run, the stock of rents and new lets must converge. “Over the past two years, rapidly rising rents and mortgage interest payments have brought renewed attention towards housing policy.”
Rising mortgage rates are also likely to feed through into the rents being asked as they push up landlords’ costs. Tom Wernham, research economist at the IFS and co-author of the report, said: “With housing support frozen and falling well behind rents, only one in 20 newly listed private rental properties could be covered by housing benefit.
Darren Baxter, principal policy adviser at the JRF said: “As more people on low incomes rent privately, it’s crucial that the Government unfreezes LHA and ensures it reflects market rents so that families aren’t forced to choose between homes that are unsafe or homes they can afford.”
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