Worldwide icon-chevron-right Europe icon-chevron-right United Kingdom icon-chevron-right England icon-chevron-right London icon-chevron-right Londoners spend nearly two thirds of their average income on rent

Londoners spend nearly two thirds of their average income on rent

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Another day, another depressing stat about how skint we all are. According to figures from The House of Commons, Londoners were spending an average of 49 percent of the average pre-tax income on rent in 2010, which sounds bad enough – but since then, it's gone up to 62 percent. 

The new figures show that the biggest rise has been in Richmond, where rents have gone up by 26 percent over the last six years. But other boroughs weren't far behind with increases of 22 percent in Westminster and 21 percent in Hackney and Merton. We'd suggest drowning your sorrows in the pub, but you've probably spent all your money on rent.

Looking for a cheap place to live? Here's how you can rent out a room in a £3 million home for £1 a month

Kingston is binning off the British pound and printing its own currency

Image: Joris Vanbillemont

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