Key insights
- The UK housing minister denied considering rent controls despite cost-of-living pressures. This reduces uncertainty in the UK housing market, but has a limited direct impact on US equities. Indirectly, it signals continued market-based approaches to housing affordability in a major economy.
LONDON, April 29 (Reuters) - Britain’s housing minister Steve Reed said the government was not looking at rent controls, following a report that a one-year freeze on rent increases was being considered to ease cost-of-living pressures.
"We are not looking at rent controls," Reed told Times Radio on Wednesday, adding that when such a policy was introduced in Scotland it "ended up with rents going up much higher".
His comments come a day after finance minister Rachel Reeves said she would do everything possible to help people renting their homes in the private sector.