Rent in Bedford rises 11% in past year
Rent in Bedford rose 11% over the past year, new figures show.
It comes as campaign group Generation Rent said it is "nonsensical" not to have price caps on rent increases, adding it "leads to poverty and homelessness".
Provisional figures from the Office for National Statistics show the average private rent in Bedford reached £1,106 per month in the year to February – up 11% from £996 a year prior.
It was also up 29% from an estimated £857 a month five years ago.
Data on rent prices is collected by the Valuation Office Agency from a variety of sources, including landlords and letting agents, with the aim of collecting data on approximately 10% of the market.
Across the East of England, the average rent was £1,217 – rising 8% from the year before.
St Albans had the highest rental cost in the region at £1,855 per month, while the lowest was in Great Yarmouth at £770.
Ben Twomey, chief executive of Generation Rent, said rents have outpaced people's wages for years.
He said: "They aren't going up so quickly anymore because, for too many of us, there is simply no money left.
"Renters cannot afford to wait any longer. Building affordable housing is welcome, but it will take years for renters to see the benefit."
He added the Government must act now to "slam the brakes on soaring rents".
"We have price caps on things like energy and water, but nothing to stop a landlord suddenly hiking the cost of someone's home. It’s nonsensical and leads to poverty and homelessness, rippling through people's lives," he said.
In February, the average private rent in Great Britain was £1,338 per month. This was £100, or 8%, higher than 12 months ago.
Nathan Emerson, chief executive of Propertymark, said there is "little surprise" that rents continue to increase.
He said: "However, there are reasons to believe that they have not increased at the rate they have done in previous years. For example, recent data has found that annual rent inflation for new lets is running at its lowest level for 3.5 years."
He added: "Propertymark recognises that the UK Government’s aim is to safeguard renters and give them greater security.
"However, an unintended consequence of continued legislation placed on landlords is a real concern echoed across the industry as overly prohibitive regulations will likely contribute to a reduced supply of rental homes, an increase in rent prices, and make it harder for people to find affordable housing."
The figures also show the different costs for various homes in Bedford, from £750 for a one-bed property to £1,724 for a home with four or more bedrooms in February.
Among the property types in the area:
A detached housed cost £1,519 to rent per month
A semi-detached cost £1,239 per month
A terraced house was £1,080 per month
And a flat or maisonette was £862 a month