Private Rented Sector (3)

Meeting: 
MQT on 2013-05-22
Session date: 
May 22, 2013
Reference: 
2013/1436
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

In your view is the level of annual rent increases in London's private rented sector acceptable?

Answer

Answer for Private Rented Sector (3)

Answer for Private Rented Sector (3)

Answered By: 
The Mayor

It is not for me to accept or reject the level of rent increases, as the private rented market is responding to levels of supply and demand. However, the only effective way to slow the pace of rent rises is to increase supply, which I am doing through building 100,000 affordable homes over two Mayoral terms, supporting Londoners into home ownership through a range of schemes, thus taking pressure off the private rented sector; and through the Build to Rent fund, which the GLA has led in London, where over 4,000 homes in London are shortlisted for funding.