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September 1, 2021
December 18, 2024
Rent prices in England have reached an all-time high, with renters paying an average of £1,362 in November, according to the Office for National Statistics (ONS).
The steep increase in rental costs reflects ongoing pressures in the housing market, driven by a shortage of available properties, rising interest rates affecting buy-to-let investors, and a growing demand for rental accommodation.
London continues to have the highest rents in the country, with many tenants reporting significant difficulties in affording housing.
The ONS also noted that rents in other regions, such as the South East and East of England, are climbing rapidly, further stretching household budgets.
The record-breaking rents come amid broader concerns about the cost of living, with inflation impacting household essentials and wages struggling to keep pace.
Housing charities and advocacy groups are calling for urgent government intervention to address the housing crisis, with proposals ranging from increasing rental property supply to introducing more stringent rent controls.
Source: Sky news
Image: The Independent
