Rent controls push up prices - WHO KNEW!!

The Property Nomads Podcast

Rob discusses the ineffectiveness of rent controls in the property market. Drawing on examples from history and recent studies, he highlights how rent controls can actually push up prices, reduce the number of available properties, and lower the quality of housing.

KEY TAKEAWAYS

• Rent controls have been shown to push up prices, reduce the number of properties available, and lower the quality of housing according to 200 studies.
• Implementing rent controls can lead to a decrease in supply, an increase in demand, and ultimately result in higher rents.
• History has repeatedly shown that price controls, including rent controls, do not work effectively.
• Scotland's introduction of rent controls led to a depressed property market, less house building, and financial challenges for social housing providers.

BEST MOMENTS

"Rent controls do not work. History has shown that that's the case, yet people, politicians, seem to not want to learn this."

"If they were to go down the rent control route, it will be under the assumption of protecting renters, but it will have the opposite effect."

"Tenants are complaining about the price of how much their rent costs up and down the country."

"Labour government are potentially looking to introduce measures to curb soaring rent, but rent controls do not solve the issue."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/homeandproperty/rent-controls-drive-up-prices-for-tenants-as-khan-pushes-for-new-powers/ar-AA1oTxxk?ocid=winp2fptaskbar&cvid=5e89594eb4394cf6f3a0be203435ae2c&ei=10

https://www.bbc.co.uk/news/articles/cj627rr3wk9o

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