The housing crisis continues to make headlines as the English Private Landlord Survey 2024, released by the Ministry of Homes, Communities and Local Government (MHCLG), reveals alarming trends in rent increases and landlord practices. Over a third of landlords who raised rents for new tenancies did so by 15% or more—a statistic that has sparked outrage among renter advocacy groups.
This rise in rent has left many renters struggling to stay in their homes while highlighting broader challenges within the UK rental market. Here’s what the report uncovered and what it means for renters and landlords alike.
Sharp Increases in Rents
The survey shows that 58% of landlords increased rents when letting to new tenants, and of those, 35% raised rents by 15% or more. The pattern isn’t limited to new tenancies. For existing tenants renewing or extending contracts, rent hikes have doubled since 2021, with 52% of landlords increasing rents—20% of whom raised rents by 15% or more.
These rent increases are contributing to a housing affordability crisis, with many families struggling to remain in their homes and communities.
Key Findings from the Survey
Landlords Selling or Downsizing Portfolios:
31% of landlords plan to reduce their portfolios or sell properties, up from 22% in 2021, reflecting growing challenges in the buy-to-let market.Energy Efficiency Concerns:
Nearly half (47%) of landlords own properties with an Energy Performance Certificate (EPC) rating of D or below. Yet, only 35% of these landlords plan to improve their properties’ energy efficiency.Discrimination in Lettings:
38% of landlords refuse to let to those receiving housing support, while 47% are unwilling to accommodate renters needing property adaptations.Borrowing Trends:
41% of landlords have no borrowing on any of their properties, suggesting varied financial strategies in the landlord community.
Calls for Action from Renter Advocacy Groups
Advocates, including the Renters’ Reform Coalition (RRC), have called on the government to strengthen renter protections. Lucy Tiller, Policy and Public Affairs Manager at the RRC, emphasized the urgent need for limits on rent increases within tenancies, linking them to inflation or wage growth.
She also urged the creation of a Rental Affordability Commission to address the broader issues of soaring rents and housing affordability. These measures, renter groups argue, could provide stability for millions of renters currently facing unaffordable housing costs.
Implications for Landlords and Tenants
For landlords, the report underscores the pressure to balance rising costs and regulatory changes with fair rental practices. The growing number of landlords planning to sell their properties indicates mounting challenges in maintaining profitable portfolios while adhering to new expectations for energy efficiency and tenant rights.
For renters, the findings highlight the urgency of legislative action to prevent housing insecurity. Rising rents, coupled with limited protections, are pushing families out of their communities and exacerbating the cost-of-living crisis.
Final Thoughts
The findings from the English Private Landlord Survey 2024 paint a clear picture of the pressures within the UK rental market. With over a third of landlords increasing rents by 15% or more and discrimination still prevalent, the need for stronger protections and solutions has never been greater.
As the government works on the Renters’ Rights Bill, the inclusion of measures to cap rent increases and address affordability will be crucial in ensuring housing stability for millions of UK renters.