Labour to launch major review into private home rents

A major review of the private rental market is set to be announced by Labour.

Lisa Nandy will lay out Labour's housing reforms plan at the party's annual London conference this weekend.

The Shadow Levelling Up and Housing Secretary has already pledged to put in place a Renter's Charter within 100 days if Labour won the next election.

It would reduce landlord powers to kick out tenants or stop them keeping pets.

Stephen Cowan, the leader of Hammersmith and Fulham Council, will lead the review into how any reforms would work .

Ms Nandy said: “Housing isn’t a market. It’s a fundamental human right.

“That’s why Labour has set out plans to tilt the balance of power back towards tenants through a powerful new Renters’ Charter and a new Decent Homes Standard.

“Security in your home, the right to make your home your own and most of all the right to live in a home fit for human habitation is non-negotiable.

“I’m delighted that Steve is going to drive forward this work so that we are ready to go on day one.”

It comes as Rightmove revealed the typical private rent being asked within London hit a record high of £2,480 a month.

The property website added that average asking rents in inner London surpassed £3,000 per month for the first time, hitting £3,010.

Its latest figures cover the fourth quarter of 2022.

Simon Leigh, director at Hackney & Leigh estate and letting agents, said: “The rental market remains buoyant, and the majority of our landlords are still receiving multiple applications on their properties.”

James Redington, sales and lettings director at Douglas & Gordon, added: "We've seen the highest rent increases we've seen for decades, and we don't expect this to slow down in the short-term."