Soaring rents are costing London families more than £300 extra a month compared with eight years ago, it was claimed today. One million private renters are having to find £3,600 a year more, costing households £3.8 billion.
The scale of the squeeze was revealed in figures produced by Labour to support its policy of rent controls.
Shadow housing secretary John Healey said rent rises since 2010 have cost families in England and Wales almost £10 billion more. London increases were twice as high as other regions.
Mr Healey said: “It should shame ministers that we are still seeing rent at sky-high prices.”
The Residential Landlords Association said Labour’s policy would “stifle investment”, making it difficult for people to find a decent place to live.
Labour leader Jeremy Corbyn has said he would make three-year tenancies the norm, and cap rent rises in line with inflation.
