LONDON
Saturday, 25 October 2014

     
Chart showing median private rent in London

London's rents keep rising. If you don't own your home, the outlook is bleak

By Mike Pollitt
3 April 2013, 12:06

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Rents in London continue to rise, as you can see from the chart above, via the London datastore.

“Median rents have increased by 7% in London in Quarter 4, 2012 compared with the same quarter a year previous. The England average did not change over the same period.”

That’s not great for your average renter. What if you want to escape the rising rents and are lucky enough to be in a position where you can think about buying?

“Since January 2008 property prices have only increased by 3% in the rest of the UK compared with 15% in London…First time buyers paid 5% more for homes in January 2013 compared with the same month a year before.”

And that’s before we even start talking about people who aren’t thinking about buying.

There are two types of people in this city. Those who own houses, and those who are screwed.

See also:

Some extremely disheartening facts about housing in London
The call goes out for lower rents in London. Chance of that happening, slim
Previewing the next decade in London housing: the landlords are winning

Mike Pollitt
Mike Pollitt is the editor of The Metropolis.

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