Mass Migration Responsible for 30 Per Cent of Rent Spike

Between mid-2021 and the end of 2023, rent rose in Britain by an average of 30 per cent, of which migration contributed 11 per cent, according to a breakdown from the Capital Economics research firm. Putting the rise into context, during the entire ten years before the plandemic, rent only rose by 26 per cent.

The firm noted that while rent traditionally increased roughly in line with wages, with wages rising by 27 per cent during the decade before 2021 compared to a 26 per cent rent hike, between mid-2021 and the end of 2023, wages only increased by 17 per cent, compared to the 30 per cent rent spike, adding further fuel to the cost of living crisis in the country.

The anylisis found that the open borders agenda resulted in additional 430,000 households seeking to rent properties between mid-2021 and June of 2023. With approximately 4.9 million rentals within the country, the influx of foreigners drove up demand by nearly nine per cent, Capital Economics said.

Andrew Wishart, the head of the housing service at Capital Economics, told The Telegraph that this was approximately three times the average of 150,000 additional households seeking rentals over every two year period in the preceding decade.

Ben Brindle of the Migration Observatory said: “It just comes back to supply and demand. If you have population growth and the housing stock is not growing as fast, that puts pressure on rents.

“Migrant homeownership rates tend to be lower, so in terms of where their demand on housing is, it is in the rental sector.”

The rental price analysis further discredits the ubiquitous neo-liberal narrative — pushed by the legacy media and leading figures in the Conservative Party as well as the left-wing Labour Party — that mass migration is a panacea for economic development.