Londoners spend half their incomes on rent

13th November 2015

Renters spend more than half their income paying for the privilege of living in London, according to a new report. A typical renter pays 59.4% of their wage in rent, but those who own a home in London use up only a quarter of their income on paying for their loan. The Evening Standard's Ruth Bloomfield notes that average deposits now stand at £74,000, or 127% of a first-timer’s wage packet, and the average rent for a one-bedroom property in 18 out of London’s 33 boroughs is now £1,000 a month.

Evening Standard (11/11/2015)