If private renting in the capital continues to go unchecked, rent could skyrocket up to or even exceed £2,700 per month by 2024.
It’s always been expensive, but as the cost-of-living crisis deepens, it’s becoming more and more difficult to live in the city.
These exorbitant prices have translated to a situation in which 49% of children in private rented homes live in poverty, with the Mayor of London now backing a two-year rent freeze to ease the burden of unchecked rental costs. If Sadiq Khan is allowed to hit the pause button on spiralling rents, the proposed policy could save each household £3,374 on average over a two-year period. In the first year alone, London’s 2.7 million renters could save £887, jumping up to £2,487 during the second.
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