Up to 59% of a household’s income in London is spent on rent, Shelter has said.
The charity, which has asked mayor Boris Johnson to intervene, said that private rents ‘eat up’ more than 50% of a family’s monthly earnings in 23 out of the capital’s 33 boroughs, leaving them unable to save for a home of their own.
Shelter said the ‘rent trap’ in the private sector leaves families unable to save towards buying a home and urged London’s mayor to intervene.
Campbell Robb, chief executive of Shelter, said: “The news that renting in the capital is unaffordable isn’t a surprise to the families across London who are stuck in the rent trap, unable to save anything towards a home of their own because they are paying out so much each month in rent.
“But the fact that rental costs in most areas of London are eating up more than half of family incomes should stop us in our tracks.
“Rising rents, the constant threat of eviction, and hidden fees are all par for the course in London’s frantic rental market.”
Johnson said: “I think it’s very important that we expand the supply available.
“What I think is less persuasive is the case for some sort of legislation about renting and prices. The difficulty with that, we think, is it would tend to drive them (landlords) out of the market.”
Johnson is currently consulting on a new voluntary initiative for London’s private rented sector.
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Comments
Shelter should be banned from providing statistics to the media unless they have been independently audited.
I agree with Shelter - as they know already, all of my landlords are idly rich multi millionaires living on super yachts in the carribean and cavorting with supermodels and A list celebs; why only the other day one of them gave me a bundle of old £50 notes he didn't want anymore because his butler had marked them while ironing his wad!
At least Boris sees the potential pitfalls in following Shelter's demands
My mortgage is more than 59% of my income - will Shelter start a campaign about that?
As for the "constant threat if eviction" what planet is this guy on? For a tenant to fear the constant threat there would have been a Section 21 notice issued, so that thakes at least two months. Then before they can be evicted theyre would be a court case taking several months so where s this "constant threat"? Foir a Scetion 21 to gave been issued MOST landlords would have a good reason. You do not get rid of a good tenant.
SteveFromLeicester's comment should be printed every time Shelter rear their ugly head and open their mouth about the private rented sector: Shelter are clearly struggling with the difference between a "charity" and a "business".
So Shelter presumably think landlords should give them cheap housing thus enabling their tenants to save up and buy their own place.
Shelter are clearly struggling with the difference between a "charity" and a "business".
I liked Kevin's analogy. To stretch it a bit further, its like expecting butchers to give their customers cheap meat so their customers can save up and buy their own farm
A homeless charity commenting on the private rental market. I'll take it with a pinch of salt thanks.
Next week, vegetarians claim butchers are bad.