Rises in rent and service charge in social housing are to be expected, Stockport Council has said. 

In the council's Housing Cabinet held on Wednesday (11 February), councillors confirmed that people renting social housing would see a 4.8 percent increase in rent, and those renting shared ownership properties would see an increase of 5 percent. 

The council have also approved a hike in service charges on properties. 

The decisions come as the council prepares its annual Housing Revenue Account (HRA) Budget, which is based on estimated income and spending for the council in the upcoming year. 

There are currently over 14,000 social housing properties in Stockport, nearly half of which are located in the centre. 

According to Stockport Council, the cost to rent affordable housing in the borough is up to 77 percent lower than the cost to rent private properties, which has now risen to more than £1,000 a month on average. 

The final budget from the council leaves room for a hardship fund for struggling residents, which will help protect the most vulnerable residents in social housing. 

"Maintaining a healthy HRA is how Stockport Homes and also the council can continue to invest in our properties as part of our asset management strategy," said Cllr Jake Austin. 

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"Obviously it's not ideal for any of us here to be discussing increases in social rents by any amounts, but it is worth noting that despite the increases in social rents, Stockport Homes still remains some of the lowest social rents within the region, and more importantly, social homes represent a lifeline for many of our residents, with their prices being up to 77 percent lower than comparable private rents. 

"Moving forward with this increase is not something any of us would want to do, but it does help to support our 30-year business plan and investment into our stock, which I think we can all agree is sorely needed, and it does so while still maintaining some of the region's lowest social rents. 

"It's important we strike that balance between providing affordable social rents that our residents need but also the ability for us to be able to maintain our asset management strategy with rental income." 

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