Labour commits to introducing rent controls

Labour commits to introducing rent controls

14:41 PM, 27th September 2017, About 7 years ago 71

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In Jeremy Corbyn’s speech at the Labour party conference today in Brighton he committed the party to introducing rent controls if they got into power.

In his speech Corbyn said:”We will control rents, when the young generation’s housing costs are three times more than that of their grandparents. That is unsustainable.”

“Homes should be for the many not speculative investments for a few.”

“Rent controls exist in many cities across the world and I want our cities to have those powers too and tenants to have those protections”

No further details of how rent controls would work precisely were given in the speech. However, Andrew Gwynne, Labour’s general election co-ordinator, later said “if New York has them then London can have them.”

Gwynne indicated that rents have soared under an unregulated rental market and action is needed to bring the costs down which will be fleshed out in a Green Paper in due course.

On the availability of housing in general Corbyn went on to say: “We also need to tax undeveloped land held by developers and have the power to compulsorily purchase.

“When councils come forward with proposals for regeneration, we will put down two markers based on one simple principle – regeneration under a Labour government will be for the benefit of the local people, not private developers, not property speculators.

“First, people who live on an estate that’s redeveloped must get a home on the same site and the same terms as before. No social cleansing, no jacking up rents, no exorbitant ground rents. And second, councils will have to win a ballot of existing tenants and leaseholders before any redevelopment scheme can take place. Real regeneration, yes, but for the many not the few.”

Editors Note:

ONS Chart below provided by Property118 member

 


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Comments

Gary Dully

3:28 AM, 29th September 2017, About 7 years ago

Corbyn has always hated anything that wasn't managed by the state.

The PRS has been in his sights for decades.

His attacks on landlords is documented in Hansard and he has to blame something for everything, but it's never his policies.

He wants us to be like Venezuela, well that was until his model crashed its economy and is about to have a civil war.

He is a socialist fuckwit, but people are so desperate they actually chant his name at the Labour conference.

It's so sad.

NW Landlord

7:56 AM, 29th September 2017, About 7 years ago

At last shelter see a little common sense long time coming

Gromit

8:01 AM, 29th September 2017, About 7 years ago

Reply to the comment left by NW Landlord at 29/09/2017 - 07:56
At last someone at the helm of Shelter who seems to understand a bit about the economics of the lettings business.

Let's hope she'll change Shelters stance on Sec.24.

Dylan Morris

9:00 AM, 30th September 2017, About 7 years ago

Reply to the comment left by NW Landlord at 28/09/2017 - 16:18
Here's a better idea. Stop increasing the population each year to the tune of 600,000 by mass immigration. Then we wouldn't have a housing crisis. Simples.

Mark Alexander - Founder of Property118

9:09 AM, 30th September 2017, About 7 years ago

Reply to the comment left by Dylan Morris at 30/09/2017 - 09:00
Ah, but immigration is vital to the economy.

NW Landlord

9:13 AM, 30th September 2017, About 7 years ago

I couldn’t agree more they are also vital to mine and a lot of landlords business. We are just doing a conversion from an old care Home into 14 flats and apart from the main builder / project manager the work force is all Romanian and there work ethic is second to none I can tell you, and they all live in our houses aswell so a win win. My overall experience of eastern Europeon immigrants has been nothing but Positive and is a main reason I am always full and have minimal arrears.

Dylan Morris

12:06 PM, 30th September 2017, About 7 years ago

Reply to the comment left by NW Landlord at 30/09/2017 - 09:13
So the housing crisis and cheap labour is a good thing for you. (Not so good if you're an English builder who has been priced out). You're entitled to your view of course, after all being a landlord is a business. I personally would prefer the countryside not to be concreted over from Lands End to John O'Groats.

Mark Alexander - Founder of Property118

12:25 PM, 30th September 2017, About 7 years ago

Reply to the comment left by Dylan Morris at 30/09/2017 - 12:06
Maybe instead of being a builder you should look into being a developer yourself and employ the Eastern Europeans with the excellent work culture.

You be hard pushed to concrete over the whole country but we do need a few hundred thousand extra homes to be built every year so your fortune is out there just waiting for you to make it.

If you can't beat em join em!

NW Landlord

13:13 PM, 30th September 2017, About 7 years ago

Hi Dylan my project manager and assistant are from uk as are all the sub contractors. He has tried to employ English labour but to be blunt they just haven’t got the same work ethic and are no where near as reliable and more expensive so it’s basically it’s a no brainer. As for being tenants I have never had any issues the only issues I have ever had have been from the U.K. trashed houses spent benefit cheques police incidents U name it it’s happened and sometimes has made me ashamed of the culture that has been created. It sounds harsh but it is my first hand experience over the last 14 years in the property game and as you said we are running a business.

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