Trying to find a new home
When your landlord tells you “you cannot live there any more” because they are unable to deal with the mould problem without completely gutting your flat, then you know your living situation isn’t great.
Since June we’ve tried to find somewhere, with very little success. And the reason is contained in the above graphic. If you want to rent in London, you can only choose two of the following three options:
- Within your budget
- Within reasonable commute of your work
- Meets your needs
There are any number of flats within commute of my work which fit my needs, but which I cannot afford. There are plenty that I can afford which are within reasonable commute of my work, but which don’t fit my needs. If I want to be able to afford somewhere that fits my needs then I have to be so far away from work that the extra travel costs mean I may as well have picked one of the unaffordable but closer places!
Landlords, being rapacious scoundrels (and that’s me being polite), hold out for the mythical ascetic tenant who wants to drop £5000 per month on a cardboard box under a motorway flyover. They are less concerned with real people, their real needs, and their real wages. Over the past 8 years house prices have risen by 28% in London, whilst wages have risen 12%. And that’s just going back to 2007. In 2007, house prices were at their most unaffordable. The situation has got worse since then, even accounting for the dip in property prices caused by the financial crash.
How much longer can this situation go on? Something has to give.