Every Londoner falls into one of two categories
A big gap is opening up between those who rent and those who own their own homes in the capital.
Up to half of London renters (between 40 and 50%) are living in poverty, meanwhile 40% of homeowners had two or more spare bedrooms.
What’s more, the divide between those who own and those who rent is growing, according to research by think tank New London Architecture (NLA).
The proportion of young people who own their own homes in the capital has plummeted from 59% to 36% in less than 10 years, with a third of privately-owned properties now rented out.
Paul Murray, chairman of NLA, said: “There is no silver bullet to solve London’s housing crisis – we need to look at lots of smaller and innovative contributions to fill in the gap left by traditional providers.”
Anyone familiar with London’s property market is likely to despair at the news, especially as the figures come a day after pictures emerged of a cupboard in Clapham being let out for £500 per month.
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