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Overcharged Londoners paid £25 billion too much rent

Over the past decade, rent rises in London have outpaced wages by more than £25 billion, in what amounts to an overcharged rent crisis.

In that time, the average rent in the capital has gone up from £1,286 to £1,623 per month, with the average London renter paying an excess premium of £25,439.

Our new figures show that if rent increases since 2011 had stayed in line with wage rises, London’s renters would have paid over £145 billion. However, the actual total is c. £171 billion – a difference of £25.4 billion. At the average house price in the borough, the overcharged total is equal to the value of all the homes in Barking and Dagenham.

London Green Party has launched a new overcharged rent calculator, which London renters can use to look at their own situation - see how you compare to the average long-term renter.

Calculate what you have been overcharged

Write to the Mayor of London today

Join me in launching a new campaign to push the current Mayor of London to work with other city Mayors whose citizens are also suffering from unaffordable rents to win the power to put in local rent control measures.

As a private renter in London for nearly 25 years, I know the worry and insecurity renters feel from high rents. In fact, I have come close to having to leave London myself due to these pressures.

The current Mayor made rent controls part of his platform in the election this year, but he must follow up his words with actions aimed at building wide support for these powers to do something about this problem.

Send an email to the Mayor

Thank you for your support

Sian Berry

London Green Party Assembly Member