Rents up £30,874,272 across Cambridge, £20,647,068 in South Cambs and £12,541,152 in East Cambs in last two years. New analysis from Labour reveals the staggering hit to renters across South and East Cambs and Cambridge over the last two years, as the cost-of-living crisis continues to deepen for families throughout Britain.
The average monthly rise in rents across our region over the last two years is £169 (£2028 rise per year) – hitting South Cambs’ 10,181 renters to the tune of £20,647,068 per year, East Cambs’ 6,184 renters £12,541,152 per year and Cambridge’s 15,224 renters £30,874,272 per year.
Incredibly, Rishi Sunak failed to even mention the cost-of-living crisis at a Conservative Party Conference in which his housing minister smeared renters as ‘weed-smoking bad people in gangs’.
Labour has called for real action to support renters including a Renters’ Charter, providing new certainty for renters, ending ‘no-fault’ evictions, and introducing four-month notice periods for landlords.
Renters in Cambridge and South and East Cambs have taken a hammering from the Conservatives’ cost of living crisis over the last two years – yet at Tory Conference this week, instead of the support they need, all they got were insults and inactivity.
The truth is, the Conservatives crashed the economy and the rest of us will pay the price for years to come – and renters face a double whammy.
Rents are soaring, and soaring interest rates have put that first home even further out of reach. As a young person in my mid-twenties who has been renting in this area for some time, these consequences of the failings of the Tory government are only too real to me.
This country badly needs a change from 13 years of Tory failure – and Labour has a plan to get our country back on its feet. Through our mission-led government we have a plan to deliver the highest sustained growth in the G7, and we would bring in a Renters’ Charter, providing new certainty for renters, ending ‘no-fault’ evictions, and introducing four-month notice periods for landlords.”
Renters in Cambridge are paying an average of £30,874,272 more per year in Cambridge than two years ago, £20,647,068 more in South Cambs and £12,541,152 more in East Cambs. The average rise in rents per month in each over the last two years is £169.
There are 10,181 Private Renters in South Cambs, 6,184 in East Cambs and 15,224 in Cambridge.
Source: Annual Population Survey, 2011 Census – Office for National Statistics, Live tables of dwelling stock, English Housing Survey – Department for Levelling Up, Housing and Communities
We therefore estimate that the total increase across South Cambs is (£169 x 10,181 x 12) = £20,647,068; the total increase across East Cambs is (£169 x 6,184 x 12) = £12,541,152; and the total increase across Cambridge is (£169 x 15,224 x 12) = £30,874,272.
At Conservative Party Conference, Tory Housing Minister, Rachel Maclean suggested many renters were ‘weed-smoking bad people in gangs’
Luke Viner is Labour’s local housing spokesperson
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