England’s Rent Cap Puts Landlords, Tenants in £3.2 Billion Limbo
- England capped 2023-2024 social rents at 7% in November budget
- Moody’s sees £3.2 billion income hit for housing associations
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Protecting tenants in social housing from the full effects of inflation is set to cost £3.2 billion ($3.8 billion) in lost income for England’s public sector landlords, according to a study by ratings company Moody’s Investors Service Inc.
The shortfall, which equates to about £600 million per year between next year and 2028, highlights the additional squeeze on housing associations and local councils already facing spending cuts and a shortage of properties.