London Renters Union warns of ongoing ‘insecurity’ amid record rental costs

London renters are condemned to “the same insecurity we have known for the last 35 years” unless rent regulations are introduced, a union has said.

The London Renters Union (LRU) has called on the government to implement a rent freeze, after new Hamptons research indicated the average monthly cost for a newly let property in the capital reached a record £2,210 in April 2023.

Hamptons said this represented a 17.2% increase on the average rent for the same month in 2022, making it the first time the average monthly rent has exceeded £2,200.

A spokesperson for the LRU told LondonWorld: "London rents are out of control. Our wild west housing system gives landlords power to hike rents well above increases in wages or inflation and evict those unable to pay. Millions are now struggling with housing costs, with many forced to cut back on essential spending or facing the threat of homelessness.

“With the introduction of the long-overdue Renters Reform Bill, the government has promised to bring renters security in our homes by abolishing ‘no-fault’ evictions. But until the government reintroduces rent regulation to this country, renters will face the same insecurity we have known for the last 35 years.”

The union’s call comes a day after the mayor of London, Sadiq Khan, and housing campaigner Kwajo Tweneboa both reiterated their desires to see rent controls introduced in London.

Concerns have been raised about the impact a rent freeze could have on Londoners, in particular its potential to crash supply and force costs even higher.

At an east London event at which Mr Khan announced he had surpassed his target of starting 116,000 affordable homes, the mayor said: “The fact demand for housing outstrips supply is why I’ll continue fighting the corner of renters – putting pressure on the government not only to improve renters’ rights, but to give me the powers to introduce a rent control system for London that would allow me to freeze rents and give renters badly needed respite.”

Outside of London, the research also showed how the average monthly rent for newly let properties had exceeded £1,000 for the first time in April, constituting a 26% rise since February 2020.

As referenced by the LRU, the long-awaited Renters Reform Bill is due to be unveiled this week. Among the changes anticipated is the abolition of Section 21 ‘no-fault’ evictions, which enable landlords to remove tenants without having to give a reason to repossess the property.

The department for levelling up, housing and communities was approached for comment.