London rents are now nearly two-thirds of average income | Discuss

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London rents are now nearly two-thirds of average income
12:16 pm
News @ Tenant Referencing

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 Official figures from the House of Commons library rental figures show that since 2010 private-sector rent has jumped from 49% to 62% of average pre-tax incomes.

Back in 2010 tenants spent more than half their income on putting a roof over their heads in only five London boroughs, now that figure has increased to 20 boroughs out of the 32 in the capital.

The figures which were obtained by Labour; found the biggest rise was in Richmond where rents had gone up 26% since 2010.

In the capital’s wealthiest borough Westminster rents rose by 22%

In the boroughs of Kensington & Chelsea rent now consumes 96% of average income.

Green MP Caroline Lucas proposed setting up a living rent commission to look at ways to bring down the cost of renting, including addressing housing supply and the relationship between rent levels and landlords’ costs, she commented; “Far too many people in Britain are struggling to make ends meet because of the unbearably high cost of renting — they deserve MPs’ support today,”

Find the original report on the Evening Standard here.

6:28 pm
David Price
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And clause 24 will make the situation worse.  Congratulations on your policy George.

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