Rents in EVERY London Postcode Are ‘Unaffordable’ For Workers on Living Wage

Rent in every London postcode is now “unaffordable” for low-paid workers — even those on the London Living Wage — according to a new survey.  Figures show that workers paid £9.15 an hour, the “living” rate, have to spend more than half their income on rent. The situation is even bleaker for apprentices, whose £2.73-an-hour earnings mean they do not stand a chance. Even the capital’s cheapest postcodes such as SE28 and N9 are now considered out of reach with rooms on average costing £480 a month and £505 a month respectively. At these rates renters on the Living Wage would be forced to spend about 40 per cent of their net income on accommodation. SpareRoom.co.uk, which conducted the research, calculated “affordable” as spending less than 35 per cent of take-home earnings on rent. Read more on the Evening Standard website.