The mayor of London, Sadiq Khan, has once again called on the government to introduce a two-year private sector rent freeze in the capital, as he hosted an emergency summit on the issue this week.
Khan said the last year had seen the biggest increase in private sector rents in the capital “since records began” and that the city had a “real problem” in relation to the 2.6 million people who rent privately in London.
The mayor argues that tenants have been hit with “a triple whammy” of rising rents, bills and costs of household essentials.
Khan said he was once again asking the government to devolve him the powers to organise a commission on rent controls.
He said: “It’s not about bringing in a rent control system from another city and imposing it on London, but it’s by working with experts, including landlords, renters and others, to have a system that works for London.”
Khan said that he was hopeful that the return of Michael Gove as levelling-up secretary “could bode well” for London, adding that he thought Gove showed “he understood the need for more council homes” during his previous spell in the role.
The mayor commented: “I’m hoping him [Gove] being back in a job he knew before, but also him being less tribal and wanting to work collegiately, could bode well for us as a city.”
The mayor’s office said the average advertised London rent has hit £2,343 a month (according to Rightmove) and that new polling suggests 40% of Londoners will struggle to meet rent payments in the next six months (YouGov poll).
Andrew Boff, Conservative member of the London Assembly, said the mayor’s proposed rent freeze would “destroy investment in housing, increase rents and result in landlords pulling out of the market – reducing the number of homes that are available”.
So, in Khan’s strange world, costs have risen for tenants but apparently not for landlords?! Rent controls have never worked and the oft comment that Landlords will simply be forced to sell to willing low income buyers, is quite frankly naive; rent controls will force Landlords to cut costs to survive and this will inevitably lead to a deterioration in the overall quality of rented accommodation.
Market forces always balance out eventually and interference in this rarely ends well.
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So how about capping petrol/diesel costs, food, all utility bills etc as well?
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Only Sadsack could hold a summit on housing and not invite anyone from the PRS.
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