4 ms·
There is no rent control in London, rents have been going up and up. Only 10 year graph I could find is this: http://leftfootforward.org/images/2015/02/London
by stuaxo 10y ago
There is no rent control in London, rents have been going up and up.
Only 10 year graph I could find is this:
http://leftfootforward.org/images/2015/02/London-rents-and-wages.jpg http://leftfootforward.org/images/2015/02/London-rents-and-w...
At the same time, lots of property is being built and left empty -
https://www.theguardian.com/society/2016/feb/21/tens-thousands-london-homes-deemed-long-term-vacant https://www.theguardian.com/society/2016/feb/21/tens-thousan...
- MagnumOpus 10y agoLondon is hemmed in by the "Metropolitan Green Belt" which restricts building, and inside the belt housebuilding is very hard due to planning policy. House building in London is barely keeping step with the usual deterioration of the housing stock - let alone with the population growing by more than a million people in a decade. > lots of property is being built and left empty 8,000 properties empty for more than 2 years is nothing in the big scheme of things. It is maybe 0.2-0.3% of the housing stock. In fact, this is amazingly low.
- justincormack 10y agoThere used to be rent control in London, back in the 1980s, there was a very small market for rentals that were not living in with the owner. There has been a huge increase in rentals since, partly caused by inequality and differential availability of mortgages, but removing rent control did help (and adding shorthold tenancy contracts).