Labour’s rent control policy will not solve our housing problems

Labour’s decision to impose rent controls will do little to solve our housing problems. Rent controls are at best misguided and at worst could be counterproductive, longer term. Misguided because rents have not actually been rising that fast in recent years. ONS figures show that rents rose by only 1 per cent in England in the year to March (1.4 per cent in London), a real terms fall. Indeed, since the beginning of 2011 they have only 4 per cent.

Misguided also because this doesn’t deal with the root problem; a lack of supply in the housing market. Put simply we need to build many more houses, for rent and home-ownership, than we are building currently, around double to match the growing demand.

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There are many different forms of rent control and this appears most similar to the German model.