Petition Make house purchasing possible for first-time buyers by introducing a rent cap

A rent cap for all domestic property would not only make renting more possible for the vast majority of low/medium earners, but would have the knock-on advantage of making the buy-to-let market less lucrative so reduce the vastly inflated prices of properties in an era of unprecedented housing demand.
This would open the door for more low/middle income households to enter into purchase or part ownership deals and actually take advantage of government incentives that are currently completely out of the financial reach of most first time buyers and young families.
Rent caps should be set by Local Authorities with rates based on prices per square metre for private accommodation, communal areas and outdoor space/buildings.
Introducing this rent cap at a rate frozen for 5 years then only allowing an inflation-rate maximum increase would allow it to be introduced at a level that would have a reduced initial impact for landlords, but benefits for normal people.