Policymakers around the world are hard at work on sensible, fair policies that help people share the home in which they live. The latest good news comes from London. Earlier this week, the government announced that they’ll be reviewing a key section of that 40-year-old law—the Greater London Powers Act—that governs home-sharing in London.
While some parts of this law can and should be maintained, we agree with Housing Minister Kris Hopkins that some portions of the law are “outdated and unworkable” and we are pleased to see the Minister working towards a “fairer, more flexible private rented sector.”
Time and time again, studies have shown that home-sharing generates economic activity and helps people pay their bills or pursue their dreams. Last month, we highlighted a new study on Airbnb’s economic impact in London and across the UK. The study found that the Airbnb community generated £502 million in economic activity in the UK in one year alone and supported 11,629 jobs. Of course, these results are no surprise to anyone who reads this blog or who has followed the growth of the sharing economy.
In the weeks ahead, we look forward to working with everyone in London to discuss these issues and tell the stories of thousands of Londoners who welcome visitors from around the world into their homes.