The number of properties available to rent in London has fallen.

Figures from the Royal Institution of Chartered Accountants (RICS) revealed the number of properties sold to landlords dropped by 9 per cent from May to July.

Tom Copley, Labour London Assembly housing spokesperson, said: “The decline in the number of private rental properties in the capital underlines the need for the Government to properly fund the development of the social and low-cost rented housing that Londoners need.”

He says Mayor of London Sadiq Khan built a record number of affordable homes last year – more in a single year than any mayor since housing was devolved to city hall.

But to reach the level of affordable home building the city needs, the Government would need to provide around £2 billion more a year in funding”.

The Buy-to-Let scheme was set up specifically for landlords looking to buy property to rent with landlords being exempt from paying stamp duty – the taxes paid pay on legal documents when buying a house

In 2017 the government the government stopped people buying a house to rent from being exempt.

RICS said the introduction of this stamp duty tax was to blame for the number of properties bought to rent dropping.

According to RICS the shortfall of supply in the capital is also expected to force rents to rise by around 10 per cent by the middle of 2023.

Abdul Choudhury, RICS Policy Manager, added: “Our survey suggests that recent Government policy and legislation changes have impeded the growth of the Private Rented Sector (PRS), which is a vital part of a functioning homes market.”