RICS: 'We do not recommend ceiling on rent increases'

The Royal Institution of Chartered Surveyors have disagreed with a key point of Labour leader Ed Miliband's 'Generation Rent' speech today:

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EdM: we will put "a ceiling on excessive rent rises." RICS: "we do not recommend that a government introduce a ceiling on rent increases"

On the visit to Redbridge, north-east London, the Labour leader also pledged banning letting agents charging tenants fees and will introduce three-year tenancies, if a Labour government is elected.

Read more: Miliband pledges cap on private rent rises

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Miliband pledges cap on private rent rises

Labour would cap private sector rent rises, ban letting agents charging tenants fees and introduce three-year tenancies, Ed Miliband will promise as he launches the party's campaign for the European and local elections.