London Rents Eating Up 57% of Twentysomethings’ Income: ChartBy
Renting a one-bedroom apartment in London now costs an average 57 percent of post-tax income for people under 30, up from 41 percent in 2007, according to a report by Countrywide Plc, the U.K.’s largest realtor. The average cost of a small home in the capital now stands at 1,133 pounds ($1,609) a month, following a 48 percent increase in rents in the past nine years, compared with an 11 percent increase in wages, according to the report.
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