Rent Rises, Low Pay – Millions ‘Living On Brink’

Exorbitant rents and stunted wages are leaving 3.5 million Londoners without enough money to meet their basic needs, research shows. The number falling short of a minimum level of living in London has increased by 400,000 since 2010, researchers found. Private rents rose by 7.2 per cent in London between 2014 and 2016, double that in the rest of Britain, while the cost of letting “cheaper” properties has gone up four times as much as the rest of Britain. And the minimum wage increase to £7.20 an hour for over-25s hasn’t helped, with high costs of living meaning single adults are actually worse off than before the rise, despite a benefit outside the city. Read more on the Morning Star website.

Fifth Of Adults Live With Parents Until They're At Least 26

As the housing crisis bites, a fifth of young adults are staying in the family home until they are at least 26, and the same proportion are not paying a penny towards their keep. A survey by Nationwide found that the proportion of adults living at home varied around the country, from just under 9% in the east Midlands, to more than double that in London, where house prices and rents are highest. While many around the country contributed financially, it found that 20% were paying nothing at all. Young adults are being squeezed by low wages and rents which have hit record highs, while those who want to buy a property are finding the monthly cost of renting is preventing them saving enough to get on the housing ladder. Read more on the Guardian website.