24/11/2012

Evening Standard: "Most families in London now rent rather than own homes"


Link to Evening Standard

"Fewer than half of London families own the roof over their heads for the first time in 30 years.

" 'Generation rent' is now in the majority after soaring prices, a mortgage famine and a disastrous housebuilding slump shattered the home-buying dreams of tens of thousands of Londoners.

"Latest government figures show that just 1.656- million, or 49.9 per cent, of the capital’s 3.318- million homes are occupied by the people who own them.

"The rest are rented out by private landlords, councils or housing associations."

13/11/2012

Evening Standard: "Londoners need £57,000 to get on housing ladder"


Link to Evening Standard

"Struggling young buyers in London need a deposit of £57,175 to get a foothold on the property ladder, a report claimed today.

"The vast sum required to obtain a mortgage on a typical first-time property is more than twice the £27,537 average for the country as a whole, according to the Halifax’s Generation Rent report."