London Daily

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UK Housing Crisis: 23% of Voters Prioritize Housing, Yet Rent Prices Continue to Soar

A crisis in the UK rental system has made housing a top priority for many voters, with 23% now ranking it as the most important issue.
This is an increase from 14% at the last general election.

The rising private rents, which have been confirmed by official statistics, are causing financial strain for renters.

An extreme example is that of a successful artist, Andy Leek, who has moved to Argentina to escape the soaring rents in the UK.

Despite his success, he finds it more affordable to pay for transatlantic air fares than to continue renting in the UK.

However, little action is being taken to address this issue.

Rent prices in England have increased by an average of £107 per month compared to the previous year, with London renters paying almost double that amount.

Private rents are rising faster than inflation and wages due to high borrowing costs for landlords and a supply and demand imbalance.

The number of new homes built by housing associations in London in the last quarter of 2020 was the lowest in over 30 years, leading to families being forced to move frequently due to constant rent increases.

According to Shelter, a housing charity, the annual financial cost of renters being forced to move due to no-fault evictions is over £500 million.

Approximately 800,000 such moves occurred last year.

The social cost, particularly for children, is even more significant.

Shelter's CEO, Polly Neate, stated that renters cannot establish stability as they face the possibility of being evicted without cause at any moment.
Translated by AI

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