Rent controls would turn London into a 'closed city'

Writing for City A.M., Matthew Lesh, Director of Public Policy and Communications at the Institute of Economic Affairs, warns that rent controls in London would have disastrous long-term effects, resulting in fewer new homes being built and a reduction in the number of properties available to rent. He says this would exacerbate the current housing crisis and make London even less accessible to newcomers. Lesh argues that rent controls would also encourage landlords to remove their properties from the rental market, particularly impacting those who lack the capital to buy their own homes, such as students and migrants. Lesh argues that rent controls would ultimately turn London into a closed city and lead to a black market for rental properties. 

City A.M. (07/04/2023)