Renting a two bedroom home in Redbridge ‘unaffordable’ for families, charity says
Renting a two bedroom property in Redbridge is “unaffordable” for families that earn even more than the typical London household income, according to research released this week.
Studies conducted by housing and homelessness charity Shelter show that a family would need to take home more than �2,570 each month, equivalent to a yearly salary of �37,000.
A typical London household income is considered to be less than �35,000, sparking warning cries from the charity that growing numbers of families face crisis point as they pay half their income in rent every month.
Charity chief executive Campbell Robb said: “These findings paint a worrying picture of families across Redbridge being stretched to the limit by the high cost of renting.
“With rents now so out of touch with wages some families are spending over half of their income just to keep a roof over their head, leaving little left for food, fuel and other essentials.”
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With one in four families across the Capital renting from private landlords, the director of Your Estates, Cranbrook Road, Gants Hill puts the price increase down to a “geographical change” and “regeneration”.
Deepak Chand, 28, said: “I don’t believe rent is too expensive in the area because we are experiencing a geographical change.
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“Believe it or not, we’re seeing a lot of young, British professionals moving into the area.
“Some people may get pushed out, but it’s improving the area and becoming more up market.”
Shelter is urging borough residents to join their campaign to find out the real cost of renting where they live by visiting www.homesforlondon.org.uk/rent.