Rent Controls Would Hurt London Renters
Responding to reports that the Mayor of London wants to introduce a form of rent control for London Renters, David Smith, the policy director at the Residential Landlords Association (RLA), said: “It is curious that the Mayor is considering introducing rent controls for London Renters at a time when rents are falling according to official data.
“The Labour Party in Wales has previously rejected rent controls arguing that they reduce incentives to invest in new property when we need more and lead to a reduction in the quality of housing. The same would be the case in London.
“All evidence around the world shows that where forms of rent control are in place, decoupling prices from the value of properties hurts both tenants and landlords. In the end what is needed is a relentless focus on boosting the supply of housing.”
The RLA added that the most recent data from the Office for National Statistics shows that in the year to October 2018, rents in London fell by 0.2%.