Ian Mulheirn has commented on the latest private rentals data. He states "Not much relief from rising rents in today's ONS release. Average rents are up around 5% but new lets still soaring at 10-11%. We should be prepared rent growth to stay above earnings growth for a while yet unfortunately. Rents fell behind earnings between 2017 and 2021 but that gap is now closing and probably has some way to shrink".
So more pressure on renters living standards.
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