Responding to the announcement today that a cap of 7% will be
applied to social rent increases in 2023/24,
Kate Henderson, Chief Executive of the National Housing
Federation, says:
“Housing associations are deeply aware of the financial pressures
facing their residents.
“The sector has made a commitment that no tenant will be evicted
because of financial hardship where they are engaging with their
housing association. Each housing association also has tailored
support in place to help residents who are struggling with the
cost of living.
“The National Housing Federation supports the government’s
decision to cap social rent increases at 7% in 2023/24. This is
rightly well below CPI+1%, the standard formula for rent setting
for social housing, while ensuring housing providers can continue
to deliver their core services for residents now and into the
future.
“With the certainty this decision provides, housing associations
representing 80% of shared ownership homes are also
committing to cap rent increases for shared owners at 7% in
2023/24, matching the social rent cap.
We hope to see an exemption from the rent cap for supported
housing providers which will ensure the future viability of care
and support for some of the most vulnerable people in the
country. The overwhelming majority of tenants who use these
specialist services will have their rent increase met in full by
housing benefits or Universal Credit.
“We know any additional costs will be difficult for residents. We
will continue to push the government for support for people on
low incomes. We also urge tenants and shared owners who are
struggling with bills to contact their housing associations to
find out what support is available.”
