For those of us unlucky enough to be renting from a private landlord, and paying them on average 47% of our income, these inflation figures make a mockery of the wider CPI measure the government keeps banging on about.
Because there is too much demand and not enough supply, landlords can often get away with charging these high prices. Even pay rises can get swallowed up by rent hikes.
We’re in a situation where renters are having to cut back on spending in other areas of their lives, and as more of us rent, that will drag the economy down.
The government can no longer deny that we have a problem with rent levels and they need to go much further on building new houses. We also want to see a system of rent control that will lower rents while supporting new house building – and this is something the next London Mayor can push for.
But unless we can raise £60,000 by 31 August we have only two more months of campaigning and then our voice will be silenced. Please donate today.