The BBC recently reported the headline Homelessness in England ‘a national crisis’, say MPs.

Polly Neate, head of the housing charity Shelter, blamed a “chronic lack of genuinely affordable homes combined with soaring rents and cuts to welfare”. I was quite shocked to read that ‘soaring rents’ were cited as a cause of homelessness as I am not aware of any rents soaring.

The Valuation Office Agency (VOA) last week released their latest statistics on the rental market (here). Looking at the statistics for the average monthly rents in the Mendip district October 2015 – September 2016 compared to October 2016 – September 2017 and the percentage increase between the two, shows the true picture of actual rents paid:

Room £362 £384 6.1%
Studio £359 £403 12.3%
One Bedroom £466 £486 4.3%
Two Bedroom £628 £636 1.3%
Three Bedroom £786 £811 3.2%
Four or more Bedrooms £1224 £1159 -5.3%
All £685 £694 1.3%

 

Based on the latest VOA statistics rents have seen a modest 1.3% increase in the Mendip district over the last 12 months. Soaring rents? No hardly, not in the Mendip district at least.

About Tom Morgan

Founder of Jungle Property the multi award-winning letting agent based in Glastonbury, Somerset. I am passionate about property and Glastonbury and about providing the very best advice to anyone who wants the best return on a buy-to-let property investment. For an open and brutally honest opinion on anything in the Glastonbury property market please contact me via tom.morgan@jungleproperty.co.uk