Middlesbrough South & East Cleveland MP Tom Blenkinsop is today (1st February 2013) calling for urgent action as new research shows rent in Middlesbrough increased by 3.4% from 2011 to 2012 – the equivalent of £171.
Research by Shelter released showed that rent was up in 83% of the country by an average of £300 per year.
“These rent increases are coming at a time when many of my constituents are seeing their wages stagnate yet their bills are soaring and they are struggling to save for a home they can eventually call their own.
“It is apt that the report labels it as a ‘rent trap’. The current situation seriously compromises any aspiring first-time buyers ability to get on the property ladder when deposits for mortgages costs tens of thousands, whilst all the time rent prices are rising so they are able to save less towards their deposit. It’s an extremely frustrating and sad situation.
“The Tory-led Government have made things even harder by rolling back basic protections for private renters. Urgent action is needed to make the market more affordable, building affordable homes and developing better protections for those who are long-term private renters – where landlords can rely on the tenant to pay the bill on time and keep the property in a good condition. It is a growing problem that seriously needs dealing with.”