Green Party leader Zack Polanski is calling for a temporary cap on private rent increases, arguing that rising rents are contributing to growing financial pressure on younger generations.
Polanski wants the government to introduce a three-year “emergency brake” on private rent rises. Under his proposal, landlords would be limited to increasing rents by whichever is lowest: the Consumer Price Index (CPI), wage growth or 2%.
He is expected to present the proposal at the Green Party conference in Brighton, describing private renting as an issue of “generational fairness”.
Green Party Calls for Rent Controls
Polanski argues that high rents are forcing more people to remain living with their parents for longer.
He points to young people in a range of circumstances, from 19-year-olds travelling to university to people in their mid-20s struggling to establish themselves in work and those in their 30s returning to the family home with partners.
According to Polanski, renters have faced rent increases that have outpaced wage growth, leaving households with less money available for other essential spending.
He believes temporarily restricting rent increases would provide tenants with greater financial stability while giving the government time to develop longer-term measures.
The Green Party leader also wants to introduce a national Fair Rents Guarantee. This would establish a permanent system for limiting future rent increases.
Focus on Younger Renters
Polanski’s announcement comes as he campaigns in the upcoming Holborn and St Pancras by-election.
The London constituency has a relatively young population, with 27% of residents aged between 18 and 29. Around 73% of households in the area are also either privately or socially rented.
The focus on private rents is therefore particularly relevant to the constituency, where a large proportion of residents do not own their homes.
However, the Green Party’s position on landlords has also attracted attention. Last month, it was reported that two members of the party’s leadership hold private rental properties.
The proposed three-year rent cap would represent a significant change to the way private rents can be increased. Whether the policy could be introduced nationally would depend on government support and the details of any legislation.
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