Record rent increases most challenging for 1.4 million people in severely insecure employment

Estate agent signs advertising home for rent or sale.

Comment on today's ONS private rent prices - Rebecca Florisson, Principal Analyst at the Work Foundation at Lancaster University

“Inflation might be falling, but those in the private rented sector are in the midst of a cost of renting crisis.

“The record 9.2% rise on the year is bad news for all renters, who are seeing rents outpace average wage rises of 6%. However, it is most challenging for the 1.4 million private renters in severely insecure employment – such as those on zero-hour contracts or in temporary work – who face insecurity at work and at home. This particularly affects severely insecure workers from Black and Asian backgrounds and workers aged 25 to 34.

“Private renters already spend a higher percentage of their monthly earnings on housing than those in all other forms of accommodation. And insecure workers are very vulnerable to the rising cost of rents as they earn on average £3,276 less than those in secure jobs.

“With the average monthly private rent for England reaching £1,285 many low-paid workers will fear they are being priced out of their homes.

“Against this background, the priority for the next Government must be to reform the private rental market to make it fairer for renters, and bring employment legislation into the 21st century by guaranteeing all workers minimum hours and the real living wage, to mitigate their vulnerability against rising housing costs.”

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