We think we're all onboard with the idea that something dreadful is happening to rents in London? They're vast, much too high, soaring ever higher and becoming increasingly unaffordable? Therefore something needs to be done. Possibly rent controls, maybe throw up a couple of hundred thousand prefabs, possibly crucify buy to let landlords or something?
The problem is that the basic original fact is wrong.
The London Assembly asked the Cambridge Centre for Housing and Planning Research to study the possible effects of various restrictions and new tenancy contracts. Including, obviously, some forms of rent control. Said study pointing out the following:
As can be seen private rents have actually risen below wages or CPI on average during the period 2006-2013. This is true both in London and in England as a whole.
Rents are not rising faster than either inflation or wages.
We do not, therefore, have a problem.
And hands up everyone who thinks that the revelation that we do not have a problem will stop people demanding a solution?