Is There Any Hope?! Londoners Spend Two Thirds Of Their Income On Rent

Tabby Powell-Tuck Tabby Powell-Tuck


London rent prices are becoming something of a morbid curiosity for us; they’re killing us slowly yet we can’t help but stare with sick fascination. The latest statistic released by the House of Commons might just be the final nail in the coffin this time, revealing that Londoners are squandering two thirds of their pre-tax income on rent.

The London Underground Rent Map ruined 2015 for us

Back in 2010 it seemed bad enough, when the figures showed that 49 percent of income was spent on renting but in 2016 this has gone up to 62 percent…and we’re feeling kind of queasy. Residents of Richmond should be feeling it the most, however, where rents have reportedly gone up by 26 percent over the last six years. Not far behind that are the London boroughs of Westminster and Hackney, which have increased by 22 percent and 21 percent respectively. Ouch.

Half a million in Crystal Palace vs half a million in Dalkeith, Scotland?

So what next? Where will be in 6 years time? Will we all really have moved to Scotland? Or will we still be here, slaving away and counting our pennies pound coins for pints to drown our sorrows in? It’s a tough call…

Featured Image Credit: James Burns, Instagram @londonfromtherooftops 

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