Islington rents “unaffordable” for families
Renting a two bedroom home in Islington is unaffordable for families earning less than �72,000, according to new research.
The housing and homelessness charity Shelter found that a family living in the borough would need to take home more than �4,580 each month to afford a private property.
With one in four families in the capital renting privately – a surge of 70 per cent over two years – and the typical London household income less than �35,000, Shelter warns that growing numbers are in crisis.
The report – conducted as part of the charity’s Homes for London campaign – also found that the rate of inflation on private rents was seven per cent in 2011, almost double the inflation on average London wages.
Chief executive Campbell Robb said: “These findings paint a worrying picture of families across Islington being stretched to the limit by the high cost of renting, praying they won’t be hit by another rent rise that could tip them over the edge.
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“With so many Londoners locked out of home ownership, more and more families have no other option, but with rents now so out of touch with wages, some families are spending over half of their income just to keep a roof over their head, leaving little left for food, fuel and other essentials. See homesforlondon.org.uk/rent
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