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Tenants in Britain ‘hit by highest increase in rent for a decade’ last month (www.theguardian.com)

submitted 10 months ago by [email protected] to c/[email protected]

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Tenants in Britain last month were hit by the highest increase in rents for any November in at least a decade.

Rents on new tenancies rose 10.2% year-on-year, according to the estate agent Hamptons, which is the strongest growth recorded in any November since its records began in 2014.

This increase means people paid a record £85bn in rent this year, Hamptons estimates.

Its latest monthly lettings index shows that the total rent bill has doubled since 2010, when tenants stumped up just over £40bn, as high house prices and mortgage costs made it harder for younger adults to buy a home.

The increase over the last 13 years is driven by a 25% increase in the number of households renting, as well as the rise in rents, Hamptons says.

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[–] [email protected] 7 points 10 months ago

Mine rose 200, its not possible to keep up this "growth" its going to destroy the rental market. As the housing market prices are already insane people are just going to move away from any town and city.