Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
Tenant Group Claims Rents Have Risen 1,200% Since 1988
A tenant group has claimed that rents have increased by 1,200% since the 1988 Housing Act. The group’s analysis also suggests that if food prices had risen at the same rate as rents, a ten-item supermarket shop would now cost more than five times its current price.
According to figures from Generation Rent’s ‘cost of renting receipt’, the average monthly rent in England has seen significant growth since 1988. The report highlights the impact of these increases on renters, comparing the rise in rents to the cost of everyday essentials.
This information may be relevant to UK letting agents and inventory clerks monitoring trends in the private rented sector and the ongoing debate about affordability for tenants.
Source: Property118