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Posted on November 4th 2015 by admin-movingin

House of Lords investigation into housing market will look at rent controls

The House of Lords has launched an “urgent” investigation into the housing market and wants views.

The inquiry, by the economic affairs committee, will investigate the supply and affordability of housing for both rent and buy.

It will also look at Stamp Duty reforms and whether rent controls would be a good idea.

Launching the inquiry, committee chairman Lord Hollick said: “There are clearly serious issues with the UK housing market.

“Across the country, young people in particular are struggling with the cost of housing, whether they are looking to buy or rent.

“There is an affordability crisis in housing.

“We would like to get to the bottom of the affordability crisis. Is the primary cause a lack of supply?

“What effect have recent government initiatives to encourage first-time buyers had?

“Or is there too much emphasis on owning your own home and should we be focusing efforts on ensuring adequate affordable housing is available for rent?”

The inquiry also particularly wants evidence on:

  • Whether the Stamp Duty reforms have had an impact, and whether there should be further reforms
  • Whether there is a case for rent controls
  • Are there tax measures that could improve housing supply and affordability

Written views are requested by December 17.