UK – Unsustainable' housing market leads to soaring rents and 86% jump in working people receiving housing benefit

by Sabrina I. Pacifici on October 24, 2012

News release: “Government goal to reduce benefits bill at risk from soaring housing market. Years of not building enough homes have led to rising rental and house prices, leaving millions of families struggling to pay for their home. The result is an unsustainable housing market which could see millions more families relying on Government support to pay their rent in the next few years. Home Truths 2012, by the National Housing Federation, is an analysis and forecast of England’s housing market. It found that the future of our housing market is looking even bleaker, with both private rental and house prices forecast to rise sharply from 2015. Private rents are now increasing at a faster rate than house prices, and the knock-on cost to the taxpayer is rising as a result. Despite Government efforts to tackle public debt, it is actually spending more on housing benefit. 417,830 more working people, an 86% increase since 2009, are now reliant on housing benefit to help them pay the rising rents on their home. And this is increasing as almost 10,000 more working people every month need housing benefit to help pay their rent.”

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