A charity claims that new official figures on rent rises will “create more worry among private renters.”
StepChange charity is referring to government figures showing that private rents increased by an average of 8.9% in the 12 months to April 2024.
The Office for National Statistics data comes as StepChange releases new polling, commissioned through YouGov, showing that 31% of private renters have used a form of credit to ensure they can afford their rent payments in the last 12 months, a figure which was 28% in January 2024; and 50% of private renters have found it difficult to keep up with bills and credit commitments in the last few months, compared to 40% of all UK adults and 44% of mortgage holders; and 33% of private renters have apparently cut back on essential spending the last 12 months, compared to one in four (26%) UK adults.
StepChange says it would like to see the Renters Reform Bill strengthened with measures to support tenants to stay in their homes if they are struggling financially.
Peter Tutton – head of policy, public affairs and research at StepChange – says: “We’ve reached a point where renting in the PRS is increasingly unaffordable, yet the growing scarcity of social housing means that more and more financially or otherwise vulnerable people have no choice but to do so.
“Sky-high rents and wider cost of living pressures mean millions of private renters are scraping by or relying on credit to pay their rent. Even with the Renters Reform Bill currently in the Lords, PRS tenants are given no effective statutory protection from eviction if they do fall into problem debt.
“While it’s important that this Bill is progressed with a clear timeline of when Section 21 will end, we’d like to see changes that would increase security for private renters, with protections from eviction that mirror those which already exist for mortgagors and social housing tenants. In the long term, we need to see a commitment to making housing more affordable and a clearer plan from government to reduce the risk of financially vulnerable PRS tenants losing their home because of rent arrears.”