Private Sector Rent levels (1)

Meeting: 
MQT on 2015-07-15
Session date: 
July 15, 2015
Reference: 
2015/2135
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

With average rents in London having now surpassed £1,500 per month, is it time to look again at the case for introducing a mechanism through which private sector rents can be stabilised (if not capped)?

Answer

Answer for Private Sector Rent levels (1)

Answer for Private Sector Rent levels (1)

Answered By: 
The Mayor

No. When London's population is growing so rapidly, the best way to moderate rental growth is to increase the supply of rented housing, an objective that would not be helped and could be undermined by rent controls, including'stabilisation'.