Renting in London:single tenants are spending up to 85 per cent of their monthly salaries on rent

Londoners are spending at least half of their monthly wages on rent, even on the capital's fringes, according to the latest data.

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A new report reveals Londoners are now spending more than 50 per cent of their monthly salaries to rent a one-bedroom flat in 25 out of 33 London boroughs.

Nearly one in three households in the capital are now privately renting, with the average cost for a one-bedroom flat now standing at £1,329 a month. 

Renters in south-east London's Bromley and east-London's Havering spend the lowest percentage of their wages (after tax) on rent.

But even renting on the capital's fringes costs a significant 42 per cent, according to the data which compares salary and rental information from the Office of National statistics.

"Private rental prices in London are certainly overstretching single tenants," says Robby Du Toit, Managing Director of Sell House Fast, who compiled the report.

"For those single tenants with ambitions to climb up the property ladder – their intentions are painfully jeopardised, as they can’t set aside a sufficient amount each month to save up for a deposit or explore better alternatives."

Unsurprisingly, tenants wishing to live alone in west London's affluent Kensington & Chelsea are paying the highest amounts - up to 85 per cent of their salaries.

This is closely followed by renters in east London's trendy Hackney, who only get to keep 19 per cent of their wages to spend on bills, food, commuting... and leisure.


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