Statement: Welsh Government social rent settlement 2023/24

The Minister for Climate Change, Julie James, has today announced the social rent settlement for the 2023/24 financial year, alongside a package of support for social tenants who are struggling financially.

The settlement is set at a maximum of 6.5%, and will be applied by housing associations locally using a range of tools to ensure that rent is affordable, and following discussion with tenants.

Stuart Ropke, Chief Executive of Community Housing Cymru, said: “As not for profit landlords, rental income is reinvested into new and existing homes and providing essential support services to tenants, which have become even more vital in supporting tenants through the cost of living crisis.

“Setting rent is one of the most important decisions that housing associations make and we don’t see permitted rent increases as a target to meet. Housing associations will now set rents locally by engaging with tenants and using affordability tools. They want tenants to feel safe and secure in their home and no one experiencing financial hardship need worry about losing their home, where they work with the housing association.

“We encourage tenants to talk to their landlord if they are worried about paying their rent.”