Apr

Mayor of London urged to take action as key workers struggle with rent

admin

Property118

Mayor of London urged to take action as key workers struggle with rent

Renting in London is now unaffordable for key workers, as a tenant group urges the Mayor of London to do more to tackle soaring rents.

Research by Generation Rent reveals teachers, nurses and bus drivers would struggle to rent the average one-bed home in most London boroughs.

Generation Rent is calling on London Mayor Sadiq Khan to “slam the brakes on local rents for key workers”.

Nine types of key workers would fail letting agent affordability checks

According to Generation Rent, nine types of key workers would fail letting agent affordability checks for the average one-bed home in every London borough, with average London wages worth less than 2.5 times the average rent.

In seven boroughs, the average one-bed home demands more rent than the average hairdresser in London earns in a year, with the rent in Kensington and Chelsea worth 138% of a hairdresser’s income of £22,641.

Across Greater London, the average monthly rent of £1,688 consumes. 40% of a community nurse’s income, 71% of a receptionist’s income, 80% of a pharmacy assistant’s income and 79% of a teaching assistant’s income

The most expensive borough was Kensington and Chelsea with the average rent for a 1-bed of £2,595 per month, and the cheapest was Bexley, with £1,138.

Slam the brakes on local rents

Dan Wilson Craw, deputy chief executive of Generation Rent, said: “London is one of the richest cities on the planet, but it depends on the key workers who clean up after us, take care of our sick and elderly, and drive our buses to where we need to go.

“London needs its key workers if the city can continue to thrive, but those workers cannot stay in a city that demands an arm and a leg for a place to recharge after a hard day and build their life from.

“The current cost of the renting crisis is devastating for London’s essential occupations and the rest of us. It is vital that the Mayor is given the power to slam the brakes on local rents and give our key workers the breathing space they need to live and work in their community. It is also vital that the mayor and the government build more affordable homes in the capital and increase how much social housing is available.”

As previously reported by Property118, London Mayor Sadiq Khan has pushed for rent controls under new devolution powers.

Mr Khan admitted that, in his conversations with the Labour government, ministers had been “not keen” on rent controls but said he would keep trying.

The post Mayor of London urged to take action as key workers struggle with rent appeared first on Property118.

View Full Article: Mayor of London urged to take action as key workers struggle with rent