Rents Set to Soar: Nearly Half of UK Landlords Plan £888 Annual Hike
Nearly half of buy-to-let landlords in Britain are gearing up to raise rents this year, and tenants might want to brace themselves. The upcoming Renters’ Rights Bill, designed to protect renters by limiting rent hikes to once a year and capping increases at the market rate, seems to be having an unexpected effect. Instead of slowing rent rises, it’s sparking a surge with landlords planning average increases of 6%, more than double the current inflation rate.
That means tenants could be looking at an extra £74 on their monthly rent that’s nearly £900 more out of pocket each year. It’s a sharp jump at a time when many are already feeling the squeeze from rising living costs, making the news particularly tough for renters trying to balance their budgets.
So why the jump? Landlords appear to be moving quickly to raise rents before the new rules kick in fully, seizing the chance to boost income while they still can. This rush to hike prices could shake up the rental market, making it harder than ever for tenants to find affordable homes.
The Renters’ Rights Bill was meant to bring fairness and stability, but the initial fallout reveals just how tricky balancing tenant protections and landlord concerns can be. For renters, this means staying alert and informed about their rights and for landlords, it’s a signal that the market is entering a new phase of change and challenge.
If rent hikes are making you rethink your housing plans, it might be time to explore homeownership. With rising rents pushing budgets to the limit, buying a home could offer a more stable future. Experts at London & Country Mortgages are ready to help with free advice and access to thousands of mortgage deals making your journey to owning a home smoother and less stressful.
Whether you’re renting or thinking about buying, these shifting tides in the housing market are something everyone needs to watch closely. The changes ahead could redefine what it means to call a place home in Britain.
