13% rise in UK rental costs over next 3 years, outpacing wage growth and worsening cost-of-living crisis.
The Resolution Foundation predicts a 13% rise in UK rental costs over the next three years, outpacing wage growth and exacerbating the cost-of-living crisis for tenants. Rent increases are attributed to a post-pandemic rebound and higher wages, with the average cost of new tenancies rising by nearly 18% since the start of 2022. The surge in rents is expected to affect younger generations, as they are concentrated among them and face higher costs when leases come up for renewal.
April 07, 2024
11 Articles