Money Box Live: Renting
We look at how the market is changing for both landlords and tenants.
There are around eight and a half million families who rent - quite a bit more than those who have mortgages - so the rise in housing costs, on top of a cost-of-living crisis, is likely to be causing significant challenges for millions of people.
The official numbers from the Office for National Statistics show that, on average, rental inflation is now 3.6%. It's highest in the East Midlands and lowest in London.
But companies such as Rightmove, HomeLet and Zoopla report much bigger rate increases of between 9 and 12%. That is likely to reflect the situation that landlords are often not raising rents for existing tenants by very much but when a home changes hands - they may take the opportunity to raise rents much more significantly.
In Scotland, emergency legislation was passed which froze most rents until the end of March 2023. So the situation is quite different from the rest of the UK.
To guide us through what is happening and what best to do about it are: Aneisha Beveridge, Head of Research at the estate and letting agents, Hamptons, Deborah Garvie, Policy Manager at Shelter England, and Allan Fuller, an independent estate agent.
Presenter: Adam Shaw
Producer: Amber Mehmood
Editor: Jess Quayle
(First broadcast 3pm, Wednesday 9th November, 2022)
Last on
More episodes
Broadcast
- Wed 9 Nov 2022 15:00大象传媒 Radio 4
Download this programme
Subscribe to this programme or download individual episodes.
Podcast
-
Money Box
The latest news from the world of personal finance