UK rents forecast to surge nearly 20% in five years, squeezing tenants' budgets nationwide.

UK rents are predicted to rise nearly 20% over the next five years, with London seeing a 14% increase. Current tenants are already spending up to 43% of their income on rent. Fewer landlords entering the market due to higher mortgage costs and changes in stamp duty for second homes are contributing factors. The government's Renters' Reform Bill and increased stamp duty surcharge may further push up costs for tenants. This rise outpaces expected income growth, potentially making housing even less affordable.

November 19, 2024
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