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A new report from the National Audit Office has revealed that private sector rents have increased modestly, in line with earnings across England.
But whilst the cost of renting in the private sector has largely followed changes in earnings, the figures show that rents in the social sector have increased faster than wages.
The exception to this is in London, where rents are rising much faster as a consequence of the supply-demand imbalance in the capital.
In its analysis on the state of the housing market yesterday, the Royal Institution of Chartered Surveyors warned that “rents are being squeezed higher due to demand consistently running ahead of supply”.
These findings will surprise those who have falsely sought to argue that landlords are profiteering.
So now the question is: why is the heavily subsidised social rented sector seeing its rents rising so much more than earnings?
With changes to mortgage interest relief due to be rolled out from April, landlords really cannot afford to be complacent; therefore need to understand the importance of 9 point tenant referencing and rent guarantee insurance.
why is the heavily subsidised social rented sector seeing its rents rising so much more than earnings?
Benefits enable more to gain housing privately as incentive for Llds to provide it but also result in rents rising in the sector.
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