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London Renters Win in Billionaire Backyard as Prices Soar

College student Phil Morris and his three roommates split a monthly rent of 2,600 pounds ($4,400) for a four-bedroom row house in London’s Fulham district. A new homebuyer would pay about three times that much for a mortgage on a similar property in their postcode.

“We were surprised that we could live in Fulham, in such a wealthy neighborhood,” said Morris, 21, a chemistry major at Imperial College London. “It’s a nice, family-sized property in a pricey area.”