Campaigners at Shelter have warned that Londoners are faced with “increasingly unaffordable” rents.
“We are hearing from people every day who are battling increasingly unaffordable private rents, who are struggling to find somewhere to live,” the charity’s policy manager Ruth Ehrlich told the Financial Times’ personal finance podcast, Money Clinic, today.
“And when they do, they’re being forced to jump through really extreme barriers just to access that home.”
The hoops people have to jump through include competing in bidding processes and paying a year’s rent in advance.
According to data from Zoopla, during the first quarter of 2022 rents in London increased by 6.2 per cent – 18 per cent up on 2019 levels.
While in outer London rents have gone up by 10 per cent.
Commenting on the figures, Zoopla’s research director Richard Donnell said: “There are however signs that momentum for rent rises are slowing as landlords can only push rents so far in terms of affordability despite demand.”
Shelter has declined to comment.