Propertymark response to latest ONS report on private rental affordability

As the UK continues to grapple with a deepening rental crisis, pressures on both tenants and landlords are reaching critical levels. Against a backdrop of rising mortgage rates, escalating living costs, and slow wage growth in many areas, affordability in the private rental sector has become an increasingly urgent issue. Megan Eighteen, President of ARLA Propertymark (Association of Residential Letting Agents), highlights the mounting challenges facing renters and landlords alike — and calls for greater government support to stabilise the sector and protect access to housing.

“Affordability has tightened throughout the UK due to several factors, including rising mortgage rates, increased living costs, and stagnant wage growth in some regions.

With the average rental price now sitting at £1,344 across the UK, this would mean a renter would need to have a salary of around £40,320 just to qualify to rent a home at this price.

It’s vital that we address the underlying causes of rising rents directly. Ongoing regulatory and financial pressures on landlords are driving many out of the market, especially when there is such a pressing need for housing, which is a key factor in the significant rent increases we’re seeing.

Investment from reliable and professional landlords is essential, as the private rental sector is instrumental in providing housing for the nation. This can only be achieved with the backing and understanding of all levels of government across the UK.”