Monthly rents have soared by over a third in Cambridge since 2013: the biggest increase in the East of England.
The figures come as new House of Commons analysis shows that over two million private renting households in England pay more than a third of their income in rent. In Cambridgeshire 37% of private renters are spending over a third of their income on rent the benchmark considered by Shelter of whether private renters are paying too much.
In Cambridge rent has increased from £912 in 2013-14 to £1225 last year. That is an increase of £313 or 34 percent.
Commenting, Daniel Zeichner MP said:
“After nearly a decade of failure under the Coalition and Conservative Governments there is still no plan to fix the cost of housing crisis.
“People are paying more than they can really afford in monthly rent. The Labour Council is doing its bit by building 500 new council homes but a crisis like this needs Government action. New social housebuilding has dropped to the lowest levels since the Second World War under this Government.
“A place to call home is vital. If people can’t afford to live in the city that brings its own problems of more congestion and less social cohesion.
“Labour would build new ‘living rent’ homes priced to be affordable to those on ordinary incomes and young families so they have a bit more for the things they need and can save for a deposit to buy that first home.”