A charity is angry about new figures from Rightmove showing that average rents are set to increase in 2025 as demand outstrips supply in the private rental sector.
The rental market study finds that the average number of enquiries sent to agents about each available property is still nearly double the level it was in pre-pandemic 2019, with an estimate that average newly advertised rents will rise by 3% outside of London, and 3% in London by the end of 2025.
However, the charity StepChange says that in a poll it has commissioned, over half (53%) of private renters are already struggling to keep up with bills and credit commitments; and one in three (32%) private renters have used credit to ensure they can afford their rent.
A spokesperson for the charity says: “This is yet more evidence that the private rental sector is broken and not working for tenants. At StepChange, private renters are significantly over-represented among our clients, while our research has consistently found that those who privately rent are more likely to find themselves facing severe financial difficulty.
“Reform of the private rental sector must be a priority. The Renters’ Rights Bill marks a good step forward, with an end to Section 21 ‘no fault’ evictions, however it could go further to strengthen protections for the most financially vulnerable tenants and prevent them from facing eviction on other grounds.”