Rightmove’s latest rental market snapshot shows rents falling in the last quarter and the annual rate of growth down to just 4.7% – but a charity says that’s no big deal.

StepChange Debt Charity says it welcomes a slight easing in rent inflation, but with rents still 4.7% higher than this time last year, “there’s unlikely to be any real relief for renters.”

A spokesperson for the charity says: “While the overall rate of inflation has fallen closer to the Bank of England’s target, private rental prices have continued to grow at a stubbornly high rate in recent months. A slight fall in rent prices is positive, but we know that the unaffordable cost of renting remains a huge financial burden on households, making it difficult for people to cover other bills, pay off debts or pay into their savings.

“We’re pleased to see the Renters Rights Bill progressing through Parliament, which will end section 21 ‘no fault’ evictions – a long overdue piece of legislation. 

“However, we’ve long called for strengthened protections for private renters facing financial hardship. Our research shows that a significant proportion of private renters are having to rely on credit just to cover their rent, which is unsustainable and will only trap people in a cycle of problem debt.”