You may have seen that it was reported that rents outside of the capital (i.e. areas like ours) have seen rental costs rocket to record highs!
Research by Rightmove’s Quarterly Rental Trends Tracker also shows that tenant demand is up by 6% and the number of available rental properties is 50% lower than this time a year ago!
To see how bad things are, just do your own search on the Rightmove website!
We now have 1 bedroom properties expecting to receive £700 a month!
This is a stretch for couples, but imagine how hard it is to people who are single?
So what can be done?
Sadly there is literally no magic wand manoeuvre. We are too far down the road for that. But……
- Peterborough City Council need to start building Council Houses, starting next week.
- Peterborough City Council need to set up a cooperative course with local education centres, to help with the man power side, while also training the next generation of builders.
- The Council need to change their planning policy to ensure that any new developments, include at least 50% affordable homes.
- The Council needs to redefine its term for affordable to something like 3 x times the average wage in the city, NOT the national average wage!
- Also, the Council should speak with Private Landlords, to see what suggestions they haver to help alleviate the situation. Especially given that there are several councillors who are landlords.
Even John Peach, the Deputy Police and Crime Commissioner for Peterborough and Cambridgeshire, owns around 12 properties in the city.
- With private rental prices continuing to rise, it means the possibility of people living in Cross Keys properties, being able to afford moving into the private sector simply diminishes. Thus, there are less housing association properties being freed up for more people in need.
- Whatever your thoughts on people owning more than one property etc the reality is, anyone who is a Landlord is making money off the housing needs of others.
- The Conservatives sold off the Council housing stock in Peterborough, 2004/05 to Cross Keys Homes, some 11,000 properties for just £4,650 each!