New version of Monopoly map for Generation Rent reveals the spiralling cost of being a London tenant

To illustrate rocketing rents across the capital, the cost of landing on each square of the Monopoly board is compared with the current average cost of renting a room in the capital - and how many days and hours the gaming price in each location will afford.

London renters are handing over up to two thirds of their income to a landlord, while spiralling house prices in the city mean few tenants who would like to buy their own home are able to compete financially with buy-to-let investors for starter properties.

This week, a group of University College London students announced they are withholding rent of up to £250,000 in a row over soaring living costs in the capital.

To illustrate how much rents have rocketed over the years, flat-sharing website Weroom.com has compared the prices on the iconic Monopoly board with today's average room rents in the locations that feature in the game.

Surprisingly, since Monopoly launched 80 years ago, the board's cheapest locations now offer some of the worst deals to tenants.

With the average cost of renting in Old Kent Road now £815 a month, the £60 originally demanded for landing on the board's brown square would be just enough today to cover the rent for two days.

Meanwhile, Park Lane represents the biggest “bargain”, with the £350 charge for the prized purple square equating to 11 days rent at today's prices.

READ MORE: Buying a home in London: how a Monopoly board based on London's whopping 2015 prices would look

"It goes to show that London locations which 80 years ago were deemed less desirable are now in high demand, given the current housing shortage," said Weroom.com chief executive, Thomas Villeneuve.

The goal of Monopoly's creator was to show that an economy which rewards wealth creation for all is better than one which benefits the few. 

The aim of the game - to drive the other players into bankruptcy, leaving one winner who takes all – sounds a bit like the harsh reality for the capital's cash-strapped renters today.

And where's the fun in that?

 

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