Written question WQ86789
- Asked by
- Mabon ap GwynforPlaid
- To be answered by
- Minister for Climate Change
- Tabled
- Due
- Answered
- Time to answer
- 7 days
Question
What consideration has the Minister given to introducing a rent cap on shared ownership properties?
Answer
Answered by Minister for Climate Change
From April 2023, the maximum limit (cap) which social rents can charge will be 6.5% - an increase well below the rate of inflation. This is the maximum any landlord can charge across all of their properties.
No landlord is required to charge the maximum and I know all landlords are carefully considering affordability and will set rents as appropriate across their housing stock. The rate is a maximum not a requirement or a target.
While shared ownership properties are not covered by the rent standard, and therefore not subject to the cap, all social landlords with shared ownership properties within their housing stock have confirmed to my officials, via their representative body, Community Housing Cymru, that they will also apply this cap to shared ownership properties. This cap will apply for the same period as for social homes, that is the 2023/24 financial year.