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Nottingham Labour

Wollaton East & Lenton Abbey Labour Team

row of modern houses, with solar panels

Helping the Homeless in Nottingham

The Tory-driven cost of living crisis is still ravaging the UK. Inflation is still high, wages still low and the cost of necessities like food and energy keep rising. The single cost that is rising the most for the average person though, is rent and mortgages. In August 2023 rent prices increased 12%. If you exclude London where rent costs have totally spiralled out of control, the average renter spends 24% of their weekly income on rent alone. This is far more than homeowners spend on their mortgages. That does not mean that homeowners aren’t also having to pay more on their mortgages due to increasing inflation and high mortgage rates. In Nottingham more residents rent than own their own property, meaning that skyrocketing rents affect more people.