The Mayor of London has called for rent control after new data revealed Waltham Forest rent prices have skyrocketed by almost £5,000 in under a decade.

Waltham Forest renters are now paying £4,740 more per year than they died seven years ago, City Hall has revealed.

The average private rent for the borough has increased from £900 per month in 2012 to £1,295 per month this year, and Sadiq Khan believes fundamental change is needed to halt these ever-rising prices.

The Mayor’s proposals include establishing a new London Private Rent Commission, with renters on its board, to implement and enforce measures to reduce rents and keep them at lower levels.

Other recommendations include introducing open-ended tenancies and increasing landlord-to-tenant notice periods to four months.

Mayor of London, Sadiq Khan said: “Ever-increasing rents are hitting Londoners hard. It is shocking that renters in Waltham Forest are now paying £4,740 more every year than they did just seven years ago – meaning more and more of their earnings go on rent, and making it harder for them to put down roots.

“Unlike other mayors around the world, I have no powers over the private rented sector. Despite this, we have worked closely with councils over the last three years to 'name and shame' rogue landlords, and I have campaigned successfully with renters to get the government to ban letting agents fees for tenants and scrap 'section 21'.”

Section 21 allowed landlords to evict without providing a reason and meant means tenants could be evicted with just two months’ notice.

Generation Rent Director, Dan Wilson Craw added: “High rents are holding back London. Whether you earn too little to move out of your parents’ home, or you can’t start a family without moving away from your community, the cost of putting a roof over our head is preventing too many us from living the life we want.”

Waltham Forest council supports the Mayor’s call for rent control.

A council spokesperson said: “We have been tackling the serious issues in the private rented sector by going after rogue landlords and poor quality housing through our Private Landlord Licensing scheme.

“This drives up the quality of housing in the rented sector as we have additional powers to enforce standards to ensure everyone has a decent and safe roof over their head.

“We were also one of the first council’s in the country to support the campaign to abolish the ability of landlords to evict tenants with only two months’ notice. It’s the number one cause of homelessness as it gives tenants next to no time to find alternative housing arrangements.

“We have also been trying to bring empty homes back into public use by making grants available to carry out repairs and make it liveable again and available. We all know that London needs more homes but there are thousands that remain empty which need to be brought back into use.”

Empty homes should be reported to the council online.