13:33 PM, 10th March 2022, About 7 months ago 6
The Mayor of London, Sadiq Khan, is calling on Government to give him the powers to freeze private rents in the capital for two years to save rent for thousands of Londoners, but no help for Landlords, struggling to cope with the rocketing cost of living.
New City Hall analysis, based on estate agent Savills forecasts, shows that freezing private rents for two years would save London tenants on average a total of £2,988 across both years, with £881 in the first year and £2107.60 in the second year.
Research from City Hall and YouGov previously estimated that a quarter of London’s 2.4 million privately renting adults had fallen behind on their rent, or said they were likely to do so, as a direct result of the pandemic. More than a third of private renters polled said they thought the pandemic was having a ‘large impact’ on their personal finances, with half a million Londoners now potentially facing eviction.
Ofgem has already announced an average rise of £693 fuel bills for 1st April by raising the energy price cap, with further steep rises expected due to spiralling global gas prices. The most recent Bank of England Monetary Policy Report has forecast that inflation will rise still further to over seven per cent.
The Mayor of London, Sadiq Khan, said: “Private renters make up nearly a third of everyone living in the capital and they are set to be hit by a devastating combination of price and bill rises. Too often the needs of private renters are ignored by both landlords and the Government.
“Rising fuel and energy costs – which will hit renters in energy inefficient homes the hardest – are already causing anxiety and stress, with a big rise in the energy price cap due next month. That’s why today I’m calling on ministers to give me the powers to stop rents rising in the capital, and help me to give people a chance to get back on their feet after the pandemic.”
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