Rent Hikes Fuel Housing Build

Social landlords are raising rents by 3.6%—the max allowed under inflation rules—to fund a massive goal of building 30,000 new social homes yearly starting in 2029. While inflation was 3.3%, they’re hitting the cap, after previously holding back increases to ease tenant burdens. Rents were frozen during the pandemic, making this a rollercoaster ride for renters. Landlords argue that with rising wages, the rent hike won’t eat up as much of people’s income—and this move is essential to keep building affordable housing for the future. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/e42730639a655a7b