One eye-catching policy currently being proposed by the Labour party is a ban on “bidding wars” in the private rented sector. In many high-pressure housing markets bidding by competing prospective tenants, instigated by the landlord or letting agent, results in tenants agreeing to pay a considerably higher rent than originally advertised.
Labour proposes to require rents to be stated in all advertising and to make it unlawful for landlords or letting agents to initiate a bidding process to increase rent further. A similar policy was introduced by Jacinda Ardern’s government in New Zealand in 2021.
