Chancellor will reportedly unveil 10-year social housing rent settlement in Autumn Budget

By Olivia Barber2024-08-21T11:01:00

The Financial Times has reported that the chancellor is planning to introduce a rent settlement of CPI + 1% for the next decade

The chancellor Rachel Reeves is expected to introduce a 10-year rent settlement in the Autumn Budget on 30 October, according to a report in the Financial Times.

The settlement will allow social landlords to raise rents annually by the Consumer Prices Index (CPI), which is currently 2.2%, plus an additional 1% each year for the next decade.

The current rent settlement is set at CPI + 1%, but the sector is advocating for greater certainty with a long-term agreement spanning at least 10 years.

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