Happy Cost of Rent Day Londoners – for the rest of the year your money is yours |
(Photo by Dan Kitwood/Getty Images)
With the average London tenant needing to work 146 days a year just to pay off their rent, today marks a miserable milestone, writes Sebastian Charleton
This year, London’s Cost of Rent Day falls on Tuesday, 27th May. This means that the average London tenant will have worked for a staggering 146 days just to pay their annual rent. From today, they start earning for themselves.
It’s a pretty miserable milestone but it exposes the scale of the capital’s housing crisis. London is the nadir of nimbyism, remarkable even by UK standards. Whether it’s a row of townhouses or a block of flats, getting anything built is a Sisyphean task. As a result, your average London renter works three weeks longer than the national average just to keep a roof over their heads.
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