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Spiralling Rents now Cost Londoners nearly Two Thirds of Average Income

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14 January, 2016

Londoners are now spending nearly two-thirds of average income on rent as sky-high prices put even more homes out of reach. 

Official figures released today show private- sector rent has rocketed up from 49% of average pre-tax income to 62% since 2010.

Six years ago, tenants spent more than half their income on putting a roof over their heads in only 5 London boroughs.  That figure has now increased t 20 out f 32 in the capital.

The House of Commons library rental figures, obtained by Labour, found the most significant rise to be in Richmond, where rents had gone up 26% since 2010.

In Westminster they went up 22 %, Hackney and Merton saw a rise of 21%. Kensington and Chelsea where rent now consumes 96% of average income it has also increased by 21%.

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