Recent research has revealed that squeezed tenants in London are having to put off starting a family in order to meet ever-growing rental rates.
The research, by property crowdfunding organisation Property Partner, suggested that the average couple is looking at spending half their combined monthly salary (55.6%) to rent a typical three-bed family home in the capital, on average around £2,460 a month.
This hefty fee adds up to a whopping £29,500 a year, meaning that many couples are choosing to put having a baby on the back burner, as they are unable to swallow the rent as well as associated costs such as childcare fees.
The research assumes that both parties are in full time employment and earning an average London salary, giving net earnings of £4,417.
The borough breakdown looks like:
|Borough||Avg. rent for 1 bed flat||Rent as a % of salary for 1 bed flat||Avg. rent for 3 bed house|
Rent as a % of salary for 3 bed house
|Barking & Dagenham||£951||21.53%||£1,484||33.59%|
|Kingston Upon Thames||£1,127||25.51%||£1,901||43.03%|
|Richmond Upon Thames||£1,470||33.28%||£2,592||58.68%|
|Hammersmith & Fulham||£1,695||38.37%||£2,887||65.35%|
|Kensington & Chelsea||£2,634||59.63%||£2,460||55.69%|
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