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TODAY'S OTHER NEWS

Agency chief tells new London mayor: 'treat rental sector as an ally'

The outgoing director of the Your Move chain of lettings agents says the new London mayor - whether Sadiq Khan or Zac Goldsmith - must regard the private rental sector as an ally not an enemy.

Adrian Gill describes London as “the capital of renting” and as a result it follows an entirely different set of housing rules to the rest of the country.

“Our capital is suffering from a serious undersupply of homes to let – which is down to an enormous undersupply of landlords taking up investment opportunities” says Gill.

He says average rents in London have risen 19 per cent since the last mayoral elections in May 2012 and by 35 per cent overall since Boris Johnson was first elected Mayor in 2008. 

“In stark contrast, rents across England and Wales as a whole have risen 19 per cent since May 2008. If London sets the trend for the nation, this acceleration should be a wake-up call” warns Gill.

“To prevent a whirlpool of talent draining out of the capital, the new mayor needs to throw landlords a lifeline. To build a sustainable supply of homes to let for the next four years, the mayor must avoid populist anti-landlord policies that yield easy support in the short term but prevent people finding a place to rent further down the line. Instead, stimulating more - not less - investment from landlords is the way to keep rents more affordable” says Gill.

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    Why would the Mayor need to send out a lifeline when landlords are getting massive rent increases? If I had London property with these huge rental increases I would not want any hindrance from a Mayor who is a complete numpty. God bless private enterprise.

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