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As housing prices soar and moving becomes near impossible due to increased competition, the mayor of London is asking the government to freeze rent – potentially saving city-dwellers £3,000 over the next two years.
Finding a home in London right now is nothing short of crisis-inducing.
Locating a flat that doesn’t induce claustrophobia or bankruptcy, securing a viewing, and having an offer accepted are three separate hurdles – none of which guarantee making it through the next.
According to reports by Spare Room and Houselet, tenants living in England’s capital are forking out anywhere between £815 – 1,127 pounds per month for a place to lay their heads each night. For most, rental costs absorb 40 percent of their total income.
The knowledge that renting in London is 71 percent more expensive compared to other parts of the UK and sits at 15.7 percent higher than average rental costs did just last year only twists the knife further.
And without stating the painfully obvious, the cost of living has risen in conjunction, leaving people across the nation pinching their pockets – unless they’re London landlords, I suppose.
A true man of the people, London Mayor Sadiq Khan is asserting his power by urging the government to freeze rent, labelling the situation ‘a disgrace’.
This is a disgrace. Rents are soaring while landlords profit.
I've repeatedly asked the Govt to let me freeze rents, saving Londoners £2,988 over two years.
With the cost of living crisis raging, this is more urgent than ever. The Govt must act. pic.twitter.com/mPmWMzjeVl
— Mayor of London, Sadiq Khan (@MayorofLondon) August 3, 2022
