Tenants see 2.5% rent rise

Private tenants saw their rents rise by 2.5% in the 12 months to June 2015, according to the latest figures from the Office for National Statistics’ Index of Private Housing Rental Prices.

Regionally rents grew by 2.5% in England, 2.1% in Scotland and 0.8% in Wales in the 12 months to June 2015.

Prices increased in all the English regions over the year to June 2015, with the biggest increase seen in London (3.8%).

Overall consumer price index (CPI) inflation stood at 0% over the period.

Jane Tully, head of insight and Engagement at the Money Advice Trust, the charity that runs National Debtline, said: “Rising rents are a real concern – especially as we know that more people than ever before are renting their homes.

“While many households will be able to shoulder these increases in housing costs as the economic recovery continues, we fear that rent arrears will continue to increase.

“At National Debtline we have seen the proportion of clients seek help with rent arrears double from 6%in 2007 to nearly 13% in 2014.

“With interest rate rises possibly only a few months away, we also expect to see additional pressure on private renters’ budgets as landlords pass on these extra costs to their tenants.

“This means there has never been a better time for people who are renting to review their household finances – and seek free advice from a charity-run service like National Debtline if they are worried about how they will cope with increased costs.”

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