Rents in the UK are forecasted to increase by up to 13% in the next three years, with rent growth outpacing earnings growth. The recent exceptional rise in new tenancy rent levels is expected to slow down, but current high market rates will still impact existing tenancies.
The disruption caused by the pandemic led to a decrease in rent levels relative to earnings, now undergoing a post-pandemic correction to align with long-term trends. Despite recent surge, the Foundation predicts a slowdown in rents for new tenancies as pay growth decreases.
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