With the Office for National Statistics reporting a record 9% increase in rent prices, renters across the UK face an affordability crisis, as calls for governmental intervention grow louder.
In the United Kingdom, the Office for National Statistics has reported a significant increase in rent prices, with an average annual growth of 9%, the highest rise recorded since the data began being collected in 2015. As of the latest figures, the average rent in the UK is now £1,238, marking a £102 increase from the previous year. Urban areas, especially London, have been particularly affected, with rent hikes reaching up to 20% in certain regions.
The spike in rent costs has been identified as a pressing issue by Ben Twomey, Chief Executive of Generation Rent. He points out that the sharp increases in rent, coupled with wages that do not match up to the rising costs of living, have led to an affordability crisis for many renters across the UK. Despite a decrease in house prices, which could potentially lower costs for landlords, renters may not yet see a reduction in their expenses. This is attributed to landlords raising prices due to the high demand for rental properties. Calls have been made for governmental action to tackle the escalating rent crisis and provide relief to affected individuals.
Meanwhile, in Victoria, Australia, there has been a 39% rise in retail theft, correlating with the economic strains resulting from the cost-of-living crisis. The 38.7% increase in retail theft incidents, totaling 28,174 cases last year, has been linked by Victoria Police to the hardship faced by many, leading some to commit theft for the first time. Chief Commissioner Shane Patton noted that the thefts mainly involve essential items such as liquor, groceries, and clothing. The surge in theft incidents is partially ascribed to individuals pushed towards criminal activity due to financial pressure.
Juanita Pope, Chief Executive of the Victorian Council of Social Service (Vcoss), emphasized the need for stronger social support to prevent theft as a desperate measure. The increase in theft from motor vehicles and a notable rise in youth offending have also been reported, despite an overall lower crime rate in Victoria compared to 2019. In response to these challenges, efforts are being made to adjust the age of criminal responsibility to international standards, as part of wider measures to address the issue.
