The extent to which can affordably rent varies considerably across the country, with London, naturally, being least affordable. We show that this isn’t just an issue for those on lower incomes.
The pandemic, as well as the government’s response to it, has accelerated the growth in house prices relative to rental prices, and weakened the London housing market relative to the rest of England.
London had the least affordable housing, with a ratio of 11.98, meaning workers required nearly 12 times their annual salary to purchase a home. Although some of the highest wages are concentrated in London…
Over the past 5 years, rental prices in the UK on average have remained broadly stable.