Shared Ownership: Rents

Department for Levelling Up, Housing and Communities written question – answered on 23rd September 2022.

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Photo of Mike Amesbury Mike Amesbury Labour, Weaver Vale

To ask the Secretary of State for Levelling Up, Housing and Communities, what estimate he has made of the potential change in rent costs for people with shared ownership rents from April 2023.

Photo of Lee Rowley Lee Rowley Parliamentary Under Secretary of State (Department for Levelling Up, Housing and Communities)

Shared Ownership rents are permitted to increase by a maximum of RPI + 0.5% per year. Given current levels of high inflation, the Government is aware of the potential for large nominal-terms rent increases for Shared Ownership leaseholders in 2023-24

As RPI + 0.5% is the permitted maximum Shared Ownership rents can increase by, social housing providers have the flexibility to set increases below this level. The Government strongly encourages providers to make use of this flexibility, and we know that many are carefully considering their options in response to cost of living concerns.

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