🏠 Rents have gone up by a fifth, on average, over the past three years – which is higher than wages Catherine Lafferty reports:
Richard Donnell, executive director at Zoopla, saidThe rental market has been running very hot over the last year. It’s a growing area of concern for renters who face a market with 33 per cent fewer homes for rent than normal. Government policies to support economic growth have boosted demand for rented homes at a time when the number of homes for rent has hardly changed since 2016.”.
The number of privately rented homes remains largely static and is only 1 per cent higher than it was seven years ago. In 2021, there were 5.5 million privately rented homes in Great Britain – slightly more than the 5.4 million total in 2016.landlords using buy-to-let mortgages The report warned that rents will continue to rise ahead of incomes unless there is a sustained increase in rental supply or a material weakening in demand, both of which it said are unlikely.
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