Simon Parker @simonparker.bsky.social · Apr 13 Not the expert, but this from JRF seems to support the idea that rents tracked incomes.
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This did surprise me. Maybe it's a media focus on the horror stories of rents shooting up in a few locations. Also, could there be a divergence between rent rises for existing tenants vs incoming tenants? That might account for the perception as people experience rent shock when they move.
it is quite amusing seeing these people posting non-stop and not taking 2 minutes to do what you just did and actually look at what the data says.
Does this data account for changes in the type of tenancy? There's been significant growth in the number of HMOs for example, so are rents tracking wages, but for smaller and smaller spaces? Enshitification is the term in software. Does that apply to housing too?
Does the income that landlords get from their rental properties count as "income" on this chart? 🤔
I've been in the same flat for 38 years - the rent is over 5 times what it initially was - my salary when I retired last month was 3 times what it had been
