Sixty percent of private renters experience rent hike, survey reveals

In a recent survey by the housing campaign group Generation Rent, it was revealed that a significant number of private renters have experienced rent increases in the past year. The most common reason for these increases, reported by 17% of private renters, is rising market rents. This figure represents a slight increase from previous surveys.

The cost of living and inflation also played a role in rent increases, affecting 11 percent of private renters compared with seven percent in November. The number of tenants who reported their landlord had passed on rising interest rates has tripled since the last survey in November, rising from 4% to 12% of private renters.

The survey found that three in five private renters were asked to pay a higher rent in the past year. Of those who faced a rent rise, 20% were asked to pay more than £100 more per month, a significant increase from previous months.

Generation Rent is calling on the UK government to urgently abolish Section 21 evictions and make it easier to control rent increases by swiftly implementing the Renters' Reform Bill. The campaign group also urged the government to relink Local Housing Allowance with market rents to improve affordability.

The survey estimates that 14% of private tenancies are vulnerable to unsustainable increases in mortgage rates, equivalent to around 800,000 households. This overall evictions figure includes 12% who have been served a no-fault Section 21 eviction notice, up from 9% in November. One in five private renters were told to move out in the past 12 months, an increase from 14% in November.

Tenants need protection from unaffordable rent hikes, as many landlords are struggling to cover interest rate rises. Generation Rent suggested the government should introduce measures to encourage landlords to sell with sitting tenants. The group also recommended doing more to build more homes in the places people want to live.

The government's response to the renting crisis needs to prioritize preventing unaffordable rent increases, protecting tenants in their homes, raising housing support for those on benefits, and increasing the building of homes, particularly social housing.

60% of private renters have faced a rent increase in the past year, an increase from previous figures. While mortgage rates are less of a factor in setting rents, wider market forces are a much larger issue. Generation Rent called on the government to take immediate action to address this crisis and ensure that private renters are protected from unfair rent increases and evictions.