According to new research from the House of Commons rental figures, tenants are now paying out up to two thirds of their income on rent.
The data shows a steep rise in the cost of renting a property in London from 49% of the average income to 62% in less than six years. Now, people in 20 London boroughs have been recorded as spending half their income on housing.
The news comes as the candidates for Mayor of London, which will be decided later this year, are vying for the votes of London’s residents. Both Zac Goldsmith and Sadiq Khan have pledged to tackle the rising cost of living or renting in the capital.
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