Ban on rental bidding wars is on the way - but will it work?

Published On Sep 12, 2024, 8:36 PM

The article discusses the rising trend of bidding wars among renters in the UK, particularly in desirable areas, leading to increased rental prices. Housing campaigners support a new legislative proposal aimed at banning this practice, which would require landlords to set a clear asking rent without accepting higher bids. The article notes that while this move is welcomed, it may not address the underlying issue of affordable housing supply, as demand continues to outpace availability. Renters are urged to have transparency in rental prices as many are currently uncertain about the actual market rate for rental properties.