Housing Solicitors

The Office for National Statistics (ONS) index of private housing rental prices has revealed that, in the last 12 months, private sector rents have risen by 2.5% across England.

In other parts of the UK, rents in Scotland and Wales rose by 2.1% and 0.8% respectively.

Social housing publisher 24Dash.com reports that housing campaigners are urging the government to take action and invest in building more affordable homes.

The biggest spike in private sector rents was seen in London – where rents rose by an average of 3.8% in the year to June 2015.

Housing charity Shelter’s chief executive, Campbell Robb, said:

“It’s truly baffling that – when a solution to our housing crisis is as clear as day – renters across the country are being left with no hope of a stable future.

“When families are losing nearly half their income on sky-high rents each month, with barely anything left over to save, how does the government expect to deliver their promise of ‘a home of your own’ for ordinary people?

“The answer is simple – only when politicians invest in building the genuinely affordable homes we so desperately need will they turn this crisis around once and for all.

“The upcoming spending review is their last chance to show they are serious about this.”

Director of Generation Rent, Betsy Dillner, added:

“The government might cheer zero inflation – but it means very little to those of us who see any pay rises end up in our landlords' pockets.

“As more people find themselves stuck renting, runaway rents will drag the economy down.

“Ministers urgently need to ramp up their investment in new homes – and bring in rent controls to lower the cost of living for all.”

The Bank of England has recently hinted that interest rates might start to rise by the end of 2015 – meaning homeowners who have overextended themselves may be facing higher mortgage repayments.

In a speech at Lincoln Cathedral in July, Governor of the Bank of England, Mark Carney, warned that interest rates could rise by the end of this year.

Any rise in mortgage rates might not only affect homeowners, but also the buy-to-let market, potentially leading to a further rise in private sector rents as landlords pass on interest rate increases to tenants.

Mr Carney said:

“In my view, the decision as to when to start such a process of adjustment will likely come into sharper relief around the turn of this year.’

He also told members of the Commons Treasury Select Committee that households and businesses “should prepare for higher borrowing costs once again”.

“The point at which interest rates may begin to rise is moving closer,” Mr Carney said.

Duncan Lewis Housing Solicitors

Duncan Lewis housing solicitors can advise rental tenants in the private sector on a wide range of housing matters, including disrepair and landlord’s duty to repair, as well as tenancy agreements – and landlord and tenant disputes

Duncan Lewis can also advise private sector landlords on their legal duty to tenants and other matters, including:

• Antisocial behaviour
• Landlord & tenant disputes
• Section 146 Notice (notice to quit)
• Tenancy agreements
• Unlawful eviction.

For expert legal advice on private rental housing matters, call Duncan Lewis housing solicitors on 020 7923 4020.