John
London renters are being overcharged
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 response, London Green Party has launched a 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.
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.
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.
Find out more about this campaign here - including how much this may have cost you personally with our calculator here.
Thank you for your support
Colin Boyle
Coordinator, London Green Party
