Capital rents up 26% as wages climb 9%

Rents in London far outpace wage growth, according to analysis of Valuation Office Agency figures by union GMB, which pegs average rents in the capital at £1,500 per month. It was found that while rents in London rose 25.9% between 2011 and 2017, earnings increased by just 9%. Greenwich has seen the largest increases, with monthly rental charges up 50% in the period to an average of £1,350, while rent in Newham increased by 47.4%, and Barking and Dagenham by 42.4%. In England as a whole, the GMB said, rent has increased by 18.2%, with the average two-bedroom flat costing £650 per month.

The Independent (04/06/2018)   City AM (04/06/2018)