Adam Hug, chair of Central London Forward and is also leader of Westminster council, said: “The extensive and lucrative short term let market in central London is inhibiting Londoners’ access to affordable, secure housing, and placing upward pressure on already expensive private rents in the capital.
New analysis by Savills, commissioned by a group of twelve central London councils called Central London Forward, finds that there were 117,000 homes listed for short-term let across London last year.
Richard Olszewski, Leader of Camden Council, said:“Stronger, more effective regulation of short-term lets in central London would benefit residents, councils, and businesses.
In central London, short-term lets represent a major proportion of the total private rental stock.
It would prevent the loss of vital permanent housing stock for Londoners; contribute towards councils’ confidence to invest in direct delivery of social housing; and make the tourism industry more sustainable for the businesses reliant on it.”.
