Residents in Brent now need a take home household income of over £3,857 a month to afford a typical two-bedroom home in the area

Shelter
Shelter (Photo credit: markhillary)

The Charity Shelter has revealed that rises in the costs of renting means that “residents in Brent now need a take home household income of over £3,857 a month to afford a typical two-bedroom home in the area.

Renting has often been thought of as the cheap alternative to home ownership, but over the past year rents in the capital have risen at nearly twice the rate of wages, meaning that London voters are struggling.”

Labour’s candidate for the London Mayoralty, Ken Livingstone has said that he will establish an all-London non-profit making lettings agency which, by cutting out Estate Agents’ profit, will help reduce rents and provide secure tenancies, and will campaign for a London Living Rent – no Londoner should pay more than a third of their income in rent.

For Ken’s webpage on Housing, click here – LINK