Darren Johnson has renewed his call for rent controls and more security as official statistics published today show that the median private rent in London rose 5% in the year to September 2012, compared to inflation (RPI) which was at 2.6%.
Darren Johnson’s rent map of London. For the full report, click here.
The figures come out as the Mayor launched the consultation on his voluntary London Rental Standard. Rents rose fastest (10%) for family homes with 4 bedrooms or more. The median rent in London, at £1,150pcm, is now double the national median rent, which remains unchanged at £575/month.
Darren Johnson commented,
“The Mayor has ruled out any meaningful reform to slow rent rises, preferring voluntary accreditation. That is positive but far from enough. We give our tenants some of the weakest protections in Europe, we should copy the smart rent controls and security enjoyed by tenants in countries like France and Germany where rent can’t rise faster than inflation guaranteeing fairness and predictability for tenants and landlords.
“We cannot go on pricing low paid workers out of swathes of London, it’s hurting our economy and the aspirations of a priced out generation.”