JLL Residential

Comment on Labour's commitment to social housing

London, 28th September. Felicity Young, +44 (0)20 7087 5108 

Adam Challis, Head of residential research at JLL comments: "Jeremy Corbyn has put housing squarely back in the centre of the domestic political agenda.

"It is right that we uphold the emerging lessons from the Grenfell Tower fire and continue to learn from that terrible disaster.

"Other elements of the speech, such as rent controls, should be viewed with caution. There is a wide swathe of examples - including pre-1989 in the UK itself - that show the negative impacts of tight controls on rents.

"We do not want to return to an era of slum landlords - the private renters experience can be difficult enough as it is. The British Property Federation announced this week that the UK is now converging on 100,000 Build to Rent units. Policy support for new investment of this type to modernise PRS would be a far more effective way to improve the plight of renters everywhere.

"However, Corbyn is right to be looking at rental costs and the aim of transparency over future costs would be of great help to tenants. It should be explicit in rental agreements that a reasonable rate of growth, perhaps in line with inflation, is to be expected.

"For PM Theresa May and Housing Minister Alok Sharma, the Conference next week will need to frame leadership on housing as Corbyn has stolen an early march."