Landlords are exploiting generation rent

As interest rates hit nearly 2 per cent and inflation tops 9 per cent, many Brits are feeling the pinch. But once again it seems that generation rent is worst off. Last month, my landlord hiked my rent by £450, or nearly 30 per cent. I’m far from alone: rents across the UK have gone up by as much as 17 per cent.

Renters in the UK have been overlooked since the cost of living crisis began to grip the country earlier this year. With inflation soaring and the cost of energy, water, food, petrol and other essentials also rocketing, life is suddenly, alarmingly, getting more expensive. The Bank of England’s decision to raise interest rates has got homeowners in a flap, with many understandably concerned about the impact this will have on their mortgage repayments.

But what about those who, like me, don’t own their own homes and remain at the mercy of their landlords? Every year, the summer marks the start of rental musical chairs: it’s when graduates move to London ahead of starting new jobs in the Autumn.