Half of renters/mortgage holders have seen their housing payments increase in the last 3 months

• 51% of renters/mortgage holders have seen their payments increase in the last three months, up 18ppts since January 2023
• Two in five think Rishi Sunak is doing a bad job as Prime Minister, the highest proportion since he entered office
• More than half of Brits think Rishi Sunak’s government is doing a bad job at managing the rising cost of living

With the average rate for a two-year fixed mortgage rising above 6% this week, one of the highest levels seen since 2008, new polling by Ipsos reveals that half of renters/mortgage holders have seen their rent/mortgage payments increase in the last three months. This is up from a third (33%) in January. Just under half (45%) say their payments have stayed the same, while just 2% say they have decreased.

When asked what they think has contributed the most to rising mortgage rates over the last three months, four in five Britons cite decisions made by the Bank of England (81%) and the state of the global economy (80%), while three quarters say decisions made by mortgage lenders (75%) and the Conservative party’s economic policies in government (74%).

Looking at the Prime Minister’s performance and handling of the rising cost of living, views are largely negative. Two in five (41%) say Sunak is doing a bad job as PM, the highest level seen since he assumed the role, while a quarter (27%) think he is doing a good job. A majority (55%) similarly say the government is doing a bad job at managing the rising cost of living.

Technical note

Ipsos interviewed a representative quota sample of 1,000 adults aged 18-75 in Great Britain. Interviews took place on the online Omnibus 20th June 2023. Data has been weighted to the known offline population proportions. All polls are subject to a wide range of potential sources of error.