Mayor of London Sadiq Khan has made another appeal for the government to give him the power to introduce rent controls in London, after estimating that typical private rents could rise to £2,700 per month next year in the city.
The Mayor also called for the delivery of more affordable housing with the help of a ‘serious funding commitment’ of £4.9 billion per year from the government.
According to research by the Greater London Authority half (49%) of children in privately rented homes live in poverty.
If a two-year rent freeze were to be introduced renters could save £3,374 on average – with £887 saved in the first year and £2,487 in the second year.
Sadiq Khan, The Mayor of London, said: “These figures reveal the clearest picture yet of why rent controls are so necessary. Private renters make up nearly a third of everyone living in the capital, but they are being consistently let down by a government that refuses to listen and take urgent action to protect them from even greater financial hardship.
“Londoners re-elected me on a manifesto pledge to push for the powers to control rents and I will not stop advocating for this lifeline on their behalf. I am delivering on my promise to build a better, fairer and more prosperous London by building more affordable homes in the capital and providing vital support to Londoners through the cost-of-living crisis. It’s about time the government did the same.”
Ben Twomey, chief executive of Generation Rent, said: “Spiralling rents are driving families into poverty and on to the streets. That is why we support the Mayor’s call for devolved powers to take action to stabilise rents. The average London renter is already putting 40 percent of their wages straight into their landlord’s pocket, and this situation shows no sign of improving on its own.
“Controlling rents doesn’t address the lack of homes that allows landlords to charge so much on new tenancies. To tackle that we also need a big increase in the supply of social and affordable homes, and the Mayor is right to call for funding to build as much of this as possible in London.
“Without action, Londoners will continue to face sky-high rents which are forcing the likes of nurses and teachers out of the city and hollowing out our communities.”
