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Rents in Wales falling in real terms

Rents in Wales are falling in real terms according to new data from the Office for National Statistics (ONS). The latest Index of Private Housing Rental Prices has noted that private sector rents in Wales rose by just 0.2% in the 12 months to June 2014. Over the same period, inflation as measured by RPI stood at 2.6% whilst CPI was 1.9%.

The increase compares to a 1% rise across Great Britain as a whole, 1% in England and 1.1% in Scotland.

These figures raise further questions about recent declarations by the Housing Group, HomeLet that rents in Wales are increasing by twice as much a wages. Commenting on the data, Douglas Haig, RLA Vice Chairman for Wales said: “The latest figures are good news for tenants. Landlords across Wales will do all they can to keep good, rent paying tenants including keeping rents down.

“Contrary to the myth put around by some, landlords aren’t seeking to fleece tenants and these official figures from the Office for National Statistics raise serious questions over the accuracy of HomeLet’s alarmist data. I am therefore writing to them to seek answers as to why their data differs so much from official statistics.”

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