According to a survey by Ocasa (a specialist rental platform), approximately 64% of renters will face difficulties this Christmas 2022 due to the cost of living crisis which means they may spend Christmas alone.
It is not only rent costs in the UK that are on the rise, but other daily essentials such as food, fuel and energy prices have also increased significantly in the past few months. Rent prices have increased by about 3.7% throughout England with Northern Ireland showing the highest rental price increase of about 9.1%.
Since renters are already having to face huge increases in rental costs, the additional costs during the Christmas period may add further financial strain. The survey by Ocasa also revealed that 78% of renters are planning to scale back their Christmas plans to decrease the amount they spend to cope with the cost-of-living crisis. The survey demonstrated that renters were most likely to cut down on the number of Christmas gifts they buy, followed by Christmas food shopping and going out. 41% of renters stated that they would not be able to afford travel costs and therefore would not be able to spend Christmas with their friends or family.
Whilst Christmas is an exciting time for friends and family to gather for celebration, it may be a struggle for many this year and renters will be affected the most due to the rising costs of living.
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