Renters are at the heart of the Britain’s economic crisis. Assael Architecture design build-to-rent schemes that are primarily popular with young people in the UK’s main urban hubs.
Russell Pedley, co-founder and director of Assael Architecture’s, comments:
“Renters, particularly those in London where the costs of housing can be over half of an average salary, have taken a beating in the last year with new rental leases exceeding 15% in many cities at the same time as energy bills have surged.
“Rampant inflation affects the whole nation, but for those starting their careers in this environment it boils down to heat or eat. Young people in their 20s and 30s are the lifeblood of Britain’s economy, and every time someone is driven out of cities such as London, Manchester and Cambridge due to the rising housing costs, the nation suffers long term.
“Hopefully this cap will help renters weather a tough 2023, but much more needs to be done to increase the rental supply and affordability through purpose-designed low energy Build-to-Rent communities for future generations.”