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Inflation has risen to 3.1%, meaning everyday spending is getting more expensive just as household budgets are already under pressure.
Social rent
Rent for certain social homes set under special rules, rather than at the going local market rate.
What it means
In England, Social Rent is a specific kind of low-cost rented housing, generally provided by a council or housing association. Its rent is set using a government formula that takes local incomes and property values into account. It differs from Affordable Rent, another type of social housing whose rent can be linked to the local market. “Social rent” does not simply mean any rent a tenant finds affordable. The rules and labels differ elsewhere in the UK.
Example
Two homes may both be described as “social housing”, but one can be let at Social Rent and the other at Affordable Rent. The rents need not be the same even if both homes are in the same area.
Why it matters
Counts of “affordable homes” can combine homes with different rent rules, so the label alone does not tell you what tenants will pay.
Also known as
social rented housing
Related terms
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