Rising rents leave a generation caught in the ‘Rent Trap’, says Shelter

Rising rents leave a generation caught in the ‘Rent Trap’, says Shelter

By agency reporter
31 Jan 2013

A new report from the housing and homelessness charity Shelter shows rents are rising by an average of almost £300 a year in England.

With average wages remaining static, many people are left unable to save for a deposit and are trapped in a cycle of unstable renting.

The Rent Trap report also reveals that:

- in 1 in 7 local authorities rents rose by more than £500 in a year
- six areas saw equivalent rent rises of more than £1,500 in a year

As a result, 72 per cent of renters say they are only able to put aside £50 a month or less in savings and 58 per cent report being unable to save anything at all.

Campbell Robb, Chief Executive of Shelter, said: "The renters we speak to have never been less hopeful. A relentless stream of rent rises means that most feel they will never move on from a life paying ‘dead money’ to landlords, in a home they can’t make their own.

"And for some, rising rents have more immediate consequences – not enough money to spend on food, fuel or other essentials."

He concluded: "‘Unless something changes, the chances of the next generation getting a home to call their own look increasingly bleak. The Government needs to show young people and families exactly how it plans to dismantle the rent trap for good."

[Ekk/4]

Creative Commons LicenseThis work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 2.0 England & Wales License. Although the views expressed in this article do not necessarily represent the views of Ekklesia, the article may reflect Ekklesia's values. If you use Ekklesia's news briefings please consider making a donation to sponsor Ekklesia's work here.