Foreign investors forcing London rents to unaffordable levels, warns Tory MP

Private rents in the capital have skyrocketed

(Picture: PA Archive)

Foreign investors buying up London property are forcing rents to unaffordable levels and contributing to a “perfect storm” housing crisis, an MP has warned.

Private rents in the capital have skyrocketed by an average of 17 per cent in the 12 months to August, London Councils said.