Rent stabilisation measures and London market

October 2, 2015

The Association of Residential Letting Agents (ARLA) has  submitted written views to the London Assembly Housing Committee investigation into the impact that rent stabilisation measures would have on London’s housing market.

ARLA has comprehensively replied to a total of 9  questions which can be seen by visiting their website: http://www.arla.co.uk/news/october-2015/arla-respond-to-rent-stabilisation-measures/

Commenting, David Cox, Managing Director of ARLA, reportedly said: “Fundamentally ARLA is not in favour of introducing rent stabilisation measures in London.  In March we surveyed our members and nearly three quarters of them said that rent control, longer tenancies and less freedom to evict tenants will not benefit tenants in reality.

“We’ve looked at Germany which is often viewed as one of the best examples of rent stabilisation in the world, but there are large costs involved for tenants as most properties are let bare without a kitchen or bathroom. In addition, in Belgium they have longer minimum tenancies lasting between three to five years which simply wouldn’t work in London where the fluidity of people coming and going for short periods is a common occurrence.

“The challenge in London remains to find new, imaginative and additional ways of delivering good homes in safe and friendly neighbourhoods for prices people can afford. We think that the stamp duty raised from London property sales should be kept in London to invest in more housing and we would like to see the London Rental Standard become mandatory across the Private Rented Sector.”

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Letting Agent Talk

The pros and cons of renting to students: is it the right choice for you?

Student properties are no different in term of quality and facilities than any other type of private rental. And although landlords may have to spend a fair amount on setting up and properly maintaining student lets, they can also charge a good market rent. To help you decide whether letting to students might be worthwhile…
Read More →
Finance

Autumn Budget Misses Mark on Housing Reform: UK Rental Market Squeezed by Shortages and Rising Rents

The UK rental market faces mounting pressures, with a recent Rics survey revealing a critical shortage of properties and surging rent prices. Landlord instructions, a key indicator of properties available to rent, fell to a net balance of -29%, marking this the lowest level since 2021. Strong tenant demand is driving rents higher, with 33%…
Read More →
Estate Agent Talk

Save a house deposit faster than ever in THESE areas!

Save a house deposit faster than ever in THESE areas! Aberdeen City in Scotland is named the best place to live if you want to save for a house deposit fast, saving in as little as a year and a half Inverclyde is second, whilst Burnley is third Average salaries and house prices in each…
Read More →
Estate Agent Talk

Finding Your Dream Home: Expert Advice from Camberley’s Top Estate Agents

Finding the right estate agent is crucial when navigating the competitive housing market in Camberley. With local expertise and in-depth market knowledge, these professionals can guide you toward your ideal property, saving you time and effort. Their understanding of the area’s nuances, from property trends to community relationships, positions them as indispensable allies in your…
Read More →
Breaking News

Zoopla reveals most affordable towns in Britain

With the average home valued at nearly four times average household incomes, Zoopla reveals the most affordable towns in Britain   An average property in Britain is valued at 3.8 times the average annual household income (assuming 2 full-time workers) Cumnock in Scotland, is Britain’s most affordable town to buy in 2024 with average property…
Read More →
Software & Tech

The Evolving Nature of Real Estate and Strategies for Agency Success

Real estate agents are used to working with fluid market dynamics. Adapting their sales strategies and responding to new industry demands is almost second nature to most agencies today. However, while making the necessary adjustments when following housing market trends is important, it’s also important for agencies to consider new business innovations that become available…
Read More →