London Housing Crisis: High Costs, High Stress
|November 7, 2013||Posted by Staff under High Cost of Land|
This 2013 excerpt is from The Guardian, Jun 22, by Dave Hill.
Londoners’ deep anxiety about their housing costs is much more widespread compared with the rest of the country. Over a third are already concerned about their ability to pay their rent or mortgage, 45% are worried that they won’t be able to meet their payments in a year’s time, and that 53% are caused a great deal or a fair amount of stress by the expense of their accommodation.
The British average for concern about ability to meet costs now was 23%, while worry about a year into the future was 33% and the stat for stress was 36%.
Yhe cost of renting privately in London has risen by an average of 3.1% in the past year while average incomes have fallen.