Average London rental could hit £2,700 per month next year - City Hall

Average rental costs in London may soar to £2,700 per month next year, new figures from City Hall suggest.

Londoners can expect to pay £133 more than the current average of £2,567 calculated by Rightmove, it warned.

London families spend 40% of wages on rent and risk being driven into poverty by "sky-high" rents, campaigners say.

It comes as statistics released by London Councils showed one in 50 people in the capital is living in temporary accommodation.

Ben Twomey, chief executive of campaign group Generation Rent, called for a "big increase" in affordable and social housing.

He said: "Spiralling rents are driving families into poverty and on to the streets.

"The average London renter is already putting 40% of their wages straight into their landlord's pocket, and this situation shows no sign of improving on its own.

"Without action, Londoners will continue to face sky-high rents which are forcing the likes of nurses and teachers out of the city and hollowing out our communities."

Last week, Prime Minister Rishi Sunak said he had to "step in" to help build affordable houses in the capital because the mayor had "failed to deliver the homes that London needs".

London Mayor Sadiq Khan, who branded that announcement "pathetic gesture politics", has campaigned for the government to introduce a two-year rental freeze and said the latest figures were a "clear picture" that controls were necessary.

He said: "Private renters make up nearly a third of everyone living in the capital, but they are being constantly let down by a government that refuses to listen and take urgent action to protect them from even greater financial hardship."

A spokeswoman for the Department for Levelling Up, Housing and Communities said: "We recognise people are facing pressures in the private rented sector, which is why we introduced the Renters (Reform) Bill, which is currently going through Parliament, and which will deliver a fairer deal for renters and landlords."

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