Renters across England are reaching their 'cost of rent day', a financial milestone where more than four months of their annual income is consumed by rental payments. Private renters in England typically spend about 36 per cent of their median household income on rent, with this figure being significantly higher in cities such as London and Bristol.
Campaigns Call for Urgent Action
Campaign groups Generation Rent and the Renters’ Reform Coalition are calling for urgent government action to control surging rental prices and empower metro mayors to limit rent increases. The Government introduced reforms in April, including the Renters’ Rights Act, which provides stronger protections such as fairer rent rules and the eventual end of Section 21 'no fault' evictions.
IPPR Report Highlights Unaffordability
A report from the Institute for Public Policy Research (IPPR) estimates that 2.4 million private rented households in the UK face unaffordable housing costs, recommending a 'double lock' to stabilise rent increases. The proposed double lock would link rent increases to inflation or wage growth, whichever is lower, to prevent excessive hikes.
The findings underscore the growing burden on tenants, with many struggling to meet basic living costs after paying rent. Campaigners argue that without intervention, the situation will worsen, particularly in high-demand urban areas.
