PROPOSALS to link rent increases to inflation would leave tenants worse off according to official data published today.
According to the Office for National Statistics’ rent index published today, private sector rents across Britain increased by 1.1 per cent in the year to January 2018. In London they grew by just 0.2 per cent.
Over the same period, inflation, as measured by CPI was 2.7 per cent and was four per cent as measured by RPI.
The Residential Landlords Association (RLA) today argues the figures show that calls by many in the Labour Party and elsewhere for rents to be linked to inflation would leave many tenants worse off.
The figures further highlight that social sector rent increases, currently based on CPI plus one per cent are increasing proportionally more than those in the private sector.
RLA Policy Director, David Smith, said:
“Today’s figures show that rent controls are unnecessary and would act against the interests of tenants by making them worse off.
“Rent rises would be even lower if it was not for the punitive tax increases which the Government has imposed on the sector and which will begin to bite far more over the coming years.”