13% RENT SURGE

Millions face extra hikes in next three years as rises outstrip pay

- ASHLEY COWBURN

AVERAGE rents could surge by 13% over the next three years, piling more pressure on cash-strapped tenants.

Despite millions already facing sky-high costs, a leading think tank warns today there are "significant housing cost rises yet to come".

After the fastest-ever rises in recent years, new tenancy costs are already up by 18% since January 2022.

The Resolution Foundation reckons in three years, average rents would have risen by more than 13%. This would far outstrip the expected pay growth.