The Green Party has put forward a proposal for a three-year cap on private rental increases. Announced by leader Zack Polanski at the party's conference in Brighton, the policy would limit rent rises to the lowest figure among the Consumer Prices Index, wage growth, or 2%.
Mr Polanski stated that the measure aims to prevent landlords from increasing prices significantly beyond wage growth, which he described as forcing renters to cut back on other expenses to afford housing. The party refers to this policy as an 'emergency brake' and part of a 'fair rents guarantee'.
The proposal has drawn criticism from property sector bodies. Timothy Douglas, Head of Policy and Campaigns at Propertymark, argued that rent caps do not address the underlying issues of housing shortages or the increasing costs associated with providing and maintaining homes. Propertymark cited evidence from Scotland, where temporary rent caps reportedly led to increased rent between tenancies, stalled investment, and landlords leaving the market. The organisation also noted international evidence suggesting that rent control schemes can reduce investment and the supply of rental properties.
The Green Party stated that the three-year period would provide the government with time to develop a national fair rents guarantee system. Mr Polanski suggested the proposal would prevent "sudden hikes" and "evictions under the guise of rent rises," offering renters "vital breathing space" for wages to catch up with rental costs.