Sadiq left red-faced after solely hitting housing goal because of Boris Johnson

Rent management would give the Mayor the power to restrict the quantity {that a} landlord might demand for a rented residence, or improve the lease by for a present tenant.

While the concept appears like a well-liked and simple repair, lease controls tried elsewhere in Europe have led to crises of their housing markets, driving landlords to promote, creating enormous ready lists for potential tenants hoping to lease a lease managed residence, and even resulting in a black market of “shadow rents”, the place tenants secretly agree to offer their landlord more money on prime of the lease.

When tried in Berlin, actual property evaluation revealed lease controls crashed provide by 41 % and drove demand as much as 172 %.

Mr Poser, of Priced Out, added: “Rent control would be a disaster for Londoners, especially young people who rely on the rented sector who would find a death of homes for rent. The solution to high rents is to build more homes of all types, something that the Mayor has powers to help enable”.

“The solution to the housing crisis will only be found in improving supply. By building more the mayor could reduce rents and the power of landlords whilst also unlocking significant economic growth.”

The Mayor’s workplace mentioned: “‘This is a nonsense attack. Including figures from 2015/16 were terms clearly set out by the Government as part of the funding arrangement. The Mayor has smashed his affordable homes target of starting 116,000 genuinely affordable homes for Londoners, and he’s smashed it on the Government’s own terms.”