Emma Reynolds MP, Labour’s Shadow Housing Minister, responding to the LSL Buy-to-Let Index which shows rents have risen twice as fast as wages over the past year, said:

“These figures show that rents are rising twice as fast as wages as the cost-of-living crisis under David Cameron continues.”

“The housing market isn’t working because there simply aren’t enough homes around for young people and families that want to buy but are forced to rent. The Tory-led Government has done next to nothing to increase housing supply and is presiding over the lowest levels of housebuilding in peacetime since the 1920s.”

“Labour is determined to tackle this housing crisis and will increase house building to at least 200,000 a year by 2020.”

Ends

Editors’ notes:

1.       The LSL Property Index shows that rents have risen 1.6% in the past twelve months – compared to 0.8% annual growth in weekly earnings.