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Londoners are spending 40% of their income on rent as prices spiral





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LONDON — Londoners are seeing 40% of their income swallowed by rent as house prices in the capital spiral, according to the Institute for Fiscal Studies.

A new IFS report found the rent-to-income ratio in Britain excluding London has fallen by 3% — from 31% to 28% — in the last twenty years, but climbed by 3% — from 37% to 40% — in London over the same period.

Median percentage of income spent on rent among private renters

The growing rent-to-income ratio in London has been driven by rapidly-increasing rent prices in a market where house prices grew by 66% between read more >>>

Source:: BusinessInsider.Com

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