Another result of London’s failed housing system – increased child poverty
Figures produced by the End Child Poverty Coalition this week show distressing levels of child poverty after housing costs are included, including within much of London.
The data breaks down levels of child poverty by parliamentary constituency, local authority, and local ward level, and shows that of the twenty constituencies with the highest levels of child poverty, seven are in London, while 11 out of 20 of the highest figures at local authority level are also in the capital.
Minimum acceptable living standards in London – and how housing costs cut right through them
This week Trust for London, in conjunction with Loughborough University, published their latest report on a Minimum Income Standard (MIS) for London – with figures updated from their first report in 2015, and with a focus in this research on families.
The MIS compares costs between London and the rest of the UK to show the difference between the minimum needed for an acceptable standard of living – with that minimum based on a list of goods discussed and agreed upon by the public.
We can draw many conclusions from the report, and though it should surprise no one that the cost of housing is a major differential between London and the rest of the UK, the research shows that the rising cost of private rents in the lower end of the market stops a large number of households achieving the MIS.
How the next Mayor of London can start fixing the housing crisis
As the major parties choose their mayoral candidates for the 2016 London elections, today Generation Rent publishes a manifesto for London that that sets out a programme that any Mayor who is serious about the private rented sector should adopt. Whoever wins in May will have to be robust in demanding new powers to regulate the sector, so it’s vital that politicians understand how hard private renters are being squeezed in the capital. Today renters can call on them to commit to solving the London housing crisis.
Open letter from Butterfields tenants: ‘We do not intend to give up our homes without fighting’
Private tenants on the Butterfields Estate in London’s Waltham Forest are facing evictions from affordable homes they have lived in for years, after they were sold on without their knowledge. Previously owned by a charitable trust that ensured tenancies were secure and affordable, the two streets of homes were bought up by a private business (BE17Ltd) at the start of this year.
UCL Rent Strike
On 3rd July, there will be a mass demonstration over the extortionate rent levels charged by University College London to their students.
Half of Londoners want a house price fall
Alex Hilton (me) brandishing the Evening Standard today
The Evening Standard today splashes on an exclusive YouGov poll in which 50% of Londoners want house prices to decrease. The Housing Minister Kris Hopkins, Chancellor George Osborne and London Mayor Boris Johnson have all stated publicly that they want house price rises to continue.
With half of Britain’s renters in London and the South East, these powerful politicians are increasingly at odds with the public’s day to day experience of the economy. They are also ignoring warnings from the Bank of England Governor Mark Carney, who has called the current state of the housing market “the biggest single threat to the economic recovery”.
Right now, politicians seem happy for a free housing market to grind down renters as long as homeowners and landlords are content, and so they have offered no real solutions. We have offered a solution. Our paper, Buying out of the Bubble, outlines how a secondary, bubble-free housing market can be developed, offering low cost housing to people willing to forego free market-level returns in capital gain or rents.
A secondary housing market would provide affordable housing for those people who just want a home, not an investment, while insulating the free market from what will otherwise become a traumatic market adjustment, with dire consequences for London’s economy.
Sign up as a supporter of Generation Rent and help us win a better deal for renters.
Alex Hilton
Director, Generation Rent
London Assembly backs our Renters’ Manifesto
London Assembly members voted this afternoon to back Generation Rent’s Manifesto. This is a fantastic endorsement of the work we are doing from politicians in the heart of the country’s housing crisis.
Two million people – a quarter of the London population – rents from a private landlord, and the unaffordability, poor conditions and insecurity of tenure are all high on the agenda. A poll from the Association of Residential Letting Agents today said that 43% of London’s renters have had reservations about their landlord or letting agent on day one of their tenancy.
London needs homes, not ‚Äòinvestments’
As the latest House Price Index reveals an annual increase of 19.6% in the cost of London homes, the MIPIM property fair rolls into the capital tomorrow. MIPIM is a forum focused on international investment in housing, which brings together tens of thousands of investors, property developers, politicians and landlords to discuss how best to make huge amounts of money from housing in cities across the world.
Controlling rents: A response to the private renting affordability crisis
Today Generation Rent has published a proposal for a flexible rent control policy, aimed first at London but applicable to anywhere where the rent is too high. Diane Abbott MP has kindly written the foreword.
Boris’ Rental Standard may not help a single tenant
Today (Wednesday 28th May) in Haringey, London Mayor Boris Johnson launches his refreshed London Rental Standard, an accreditation scheme for landlords. We’re not impressed and doubt this scheme will help one single tenant.