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copydude

Sub £500 Pm Rooms Become Extinct As London Rents Soar

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Five years ago, a third of the rooms available to rent in London were priced below £500 a month. However, thanks to soaring demand, just seven per cent of flatshares with London postcodes now cost less

Meanwhile, the number of rooms priced above £1,000 a month in London has doubled since 2011, while more than 40 per cent of rooms cost tenants £750-plus.

London, where rent has risen 48 per cent in nine years , the cost of renting a one-bedroom home takes up nearly 60 per cent of the income of the average full-time worker aged under 30.

New Report by SpareRoom.co.uk

No Brexit tremors there then.

It's just mind bending what people pay to rent a room. Surely rents must be capped at sometime.

Edited by copydude

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2 bed flat in Oxford i used to rent for £800 3 years ago is now £1100.

Bonkers!

It's the knock-on, I guess. People who can no longer afford house purchase push up rented property. People who can no longer afford flats now push up rooms.

What's left after rooms? Park bench space?

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It's the knock-on, I guess. People who can no longer afford house purchase push up rented property. People who can no longer afford flats now push up rooms.

What's left after rooms? Park bench space?

31 in a house in Wembley then park bench.

My brother was renting a room for £1K a month near to Brixton 3 years ago, he was wise enough to leave the country.

When you think it couldn't get worse it got much worse. 2013 is Utopia compared to now.

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31 in a house in Wembley then park bench.

My brother was renting a room for £1K a month near to Brixton 3 years ago, he was wise enough to leave the country.

When you think it couldn't get worse it got much worse. 2013 is Utopia compared to now.

Hmmmm. I'm thinking about a start-up concept, aird&d . . . drink and doss.

Our 'hosts' keep the bench free for you when you reserve.

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So has Browns.

But even before that, there was Mrs. T's lot.

The sell-off of council housing and the legalisation of 'mewing' probably did more to underpin HPI.

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But even before that, there was Mrs. T's lot.

The sell-off of council housing and the legalisation of 'mewing' probably did more to underpin HPI.

Yes but her bubble did crash rather spectacularly, no bailouts, QE, HTB, FFL, etc.. to keep it going.

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Sounds about right - when I first moved to London (10 years or so ago) I shared a 2 bed flat for 1000 in Ealing. Just looked and a near identical flat in the same building is on at 1650. So 825 per room for Ealing??? Ouch.

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With the weak pound this will get worse - landlords renting out to airbnb tourists...

Maybe worth investing in backpacker hostels..

The pound may be dropping, but is it 'weak' ?

Rip-off Britain sees to me no less expensive than it ever was. Price gouging all the way.

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Look at it this way. The euro is constantly described as a disaster especially by brexiteers. However the pound buys about €1.18 now compared to €1.60 when the euro was established. Weak as a kitten pound as ever.

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I charge a lot less than £500 for my lodger. However a) she is not crazy and B) I don't feel right about price gouging lodgers.

Saying that with more money I could save up and buy a bigger house for me in about 10 years.

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so many empty council flats in my area the following link using google maps shows you the amount of homes in my area.

https://www.google.co.uk/maps/@51.4701558,-0.185224,3a,75y,57.7h,75.03t/data=!3m6!1e1!3m4!1su5rQTgBqW2DNysUVPLoHAA!2e0!7i13312!8i6656

and there is more empty buildings each one housing 90 flats in other parts of my area owned by the council, i've count around 1000 empty homes that I have seen so far in my area, just wondering how many more exist.

Edited by crash2006

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so many empty council flats in my area the following link using google maps shows you the amount of homes in my area.

https://www.google.co.uk/maps/@51.4701558,-0.185224,3a,75y,57.7h,75.03t/data=!3m6!1e1!3m4!1su5rQTgBqW2DNysUVPLoHAA!2e0!7i13312!8i6656

and there is more empty buildings each one housing 90 flats in other parts of my area owned by the council, i've count around 1000 empty homes that I have seen so far in my area, just wondering how many more exist.

Probably going to knock them down to sell to private builders to make way for £1 million studio flats. They are all that seems to have been built under Cameron and Johnson, unaffordable flats.

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so many empty council flats in my area the following link using google maps shows you the amount of homes in my area.

https://www.google.co.uk/maps/@51.4701558,-0.185224,3a,75y,57.7h,75.03t/data=!3m6!1e1!3m4!1su5rQTgBqW2DNysUVPLoHAA!2e0!7i13312!8i6656

and there is more empty buildings each one housing 90 flats in other parts of my area owned by the council, i've count around 1000 empty homes that I have seen so far in my area, just wondering how many more exist.

Have you written to your MP or the meeja to find out what's going on? Seems mad on the face of it and the flats are quite new so should be OK to be used. No?

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Wouldn't it be cheaper to buy a motorhome, just drive it around the outskirts of London, parking, sleeping, filling up water tank etc as you go?

Sure you might keep getting moved on and find it hard to park overnight in some places and be vulnerable to crime but would be interesting to see if someone could pull it off.

The following link makes for an interesting and amusing read. :)

https://www.reddit.com/r/london/comments/1zbyt7/has_anyone_tried_living_in_a_campervan_in_london/

Edited by spacedin

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Have you written to your MP or the meeja to find out what's going on? Seems mad on the face of it and the flats are quite new so should be OK to be used. No?

there are more flats empty 10 mins away, these are central London flats crazy.

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The road I used to live in used to be majority owner occupiers....first time buyer property homes of the past....now they are mainly rented out, either the owners moved out and rented it out ( some moved abroad) or sold to a person whose whole intention was to rent it out for profit for the long term.....once there was a steady turnover of homes, now almost nothing ever comes onto the market, the gardens are uncared for and the windows require painting.....the people living there have no stake in the homes or area they rent, how they can afford the rents I will never know....often I wonder who actually pays the rents and how many have to be squeezed in to divide the rent into some kind of affordability.....and they call it progress. ;)

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Copy and pasting this as it's comical. I knew someone who used to run around the UK sleeping wherever he could find over a year. It was hilarious talking to him as he'd say he needed to get to Exeter from Birmingham so would get up early in the morning and get dressed into his running gear and put his kit in a trailer behind him.

Regards the following; just think how much rent you would save if you pulled this off. It looks a lot more appealing than sharing a room with some oddball in London for £400 quid a month. Life is meant to be an adventure anyway.

"I lived in a van in London for 10 months in 2011. I had a bank balance of about £1500, no debt but no access to credit. I bought a Ford Transit, Medium height, Medium length -no windows in the back, for £1000. Wanting to live as central as possible I needed to go for stealth.

I spent £90 in B&Q on recycled plastic insulation, completely lined the inside and covered in plywood (about £100 I think?). Got some ridiculously cheap carpet offcuts to completely cover the inside (these were almost free, I think I gave the guy £20 for large sections of rich plush red carpet). Went to the kids section in IKEA and bought some bits which I used for internal storage. Had seen a dilapidated caravan abandoned in a field. The front axle had been stripped and it had a huge bowed ceiling where water had collected on the roof and burst through to drench and destroy the entire inside. Somehow there was a racking untouched by water inside and I used this as a wardrobe. My grandfather wanted rid of a sofa bed he'd bought and never used. I took the arms off and managed to fit it with barely a mm to spare. I could then raise the bed up and have a sofa in the back for extra space if I wanted, or pull down for an incredibly comfortable double bed (seriously, I think he paid £700 pounds for this thing originally, it would not have been the same without it).

I spent £110 on a leisure battery and wired it to charge when driving, and power the lights & phone charger at night. I went online and bought a stack of thermal underwear, long-johns, vests etc. -went back to B&Q and got a camping stove with gas refills. I bought a hi-vis and left it at all times on the front seat, as well as a sticker saying No Tools Left In This Vehicle Overnight. I didn't want anyone to know there was someone inside.

First night was hell. I tried parking on a quiet street in Finchley but every gust of wind had my mind in twists and turns, thinking someone was just about to dash the window in and make off with the van -then they'd find me in the back and I would either succeed in beating them off the steering wheel or get stabbed to death trying. Not nice. I slept with a hammer beside the bed for a long time. It's hard to explain -the difference between thinking about what it's like to be in the back of a van on a dark street, preparing yourself for it, and then actually being there, at 3AM, in your long johns. Was not looking forward to meeting some of London's darker characters, but at the same time, I also grew completely terrified of the MET Police. The fear of having your home taken away in a snap is incredibly distressing. Will you have the right answer when you get stopped? How's your paperwork? Everything up to date?

After the first week of parking randomly all over London wherever I could find pockets of free parking (of which there are plenty, usually on the border between different parking zones) I settled around Burgess Park in Southwark. I moved the van every night to avoid suspicion. I started off in January. It snowed. It was very cold. I showered in work and occasionally at friends (usually weekends). At night I used the gas stove for heat. Within minutes the inside was like a sauna. It would stay that way for about an hour allowing me to get to sleep. In the morning I would crawl down under the blanket and stick my arm out, turn on the heater and get up after the temperature had risen. I risked carbon monoxide poisoning and death by fire every day for two months. Please don't do this.

Summer was incredible, I had lots of spare cash, cooked outside in the park (forgot to mention, in winter I never cooked, lived off the canteen in work & falafel wraps in the evening.) I went to 56a near Elephant & Castle where they helped me build a bike for the fine sum of £20. Used this to go everywhere. Saved diesel and meant I worried less about getting stopped by the police.

Heading to a house party in north London, on foot one Saturday night the following October (I'd left the van in south London) -my friend and I were mugged. She was beaten badly and I was beaten unconscious and left with a broken arm. I woke up in the Royal Free in a private room with an attached toilet and shower where I spent one week in a bed being brought hot food. The ability to pee in a toilet at 3AM without the need for an empty Lucozade bottle re-ignited my love for the great indoors. So after three weeks of looking like a moron (and probably risking arrest) by driving around in a transit changing gears with one arm in a cast and steering with the help of my knees -I got rid of the van. I used the money I'd saved by not paying rent and found a room in Ealing and waited for the van to be sold. I ended up losing a lot of money on it -took if for an MOT to find it had been clocked by the guy who sold it to me. No wonder I had it cheap I suppose.

It's massively, massively socially unacceptable to live in a van. You won't find a lot of support on online forums. People will chastise you, tell you you're stupid, tell you it can't be done, tell you you'd be better off doing x,y, or z. You're challenging a norm and that unsettles people. They get aggressive. In this thread you have someone telling you that spending £5 on a meal is obscene, that you should do a better job of budgeting! In any other context that type of comment would be outrageously inappropriate! Living in a van can work, but it requires compromise and is probably only a benefit if you're on a very low income. Money goes on rent. LOTS of money goes on rent. If you're earning mininum wage (which I was at the time), living in a van can be a lot of help. You will need to be disciplined. I went into that van living like a student. I came out of it like a soldier after boot camp. My room is mint. All my socks are in pairs.

I'm now on good money, living in a massive room with some money to burn each week so I'm saving for another van -without the red shag-van feel. To travel in. With cruise control and air-conditioning and a bike rack that I'll only use two weeks in the year while on holiday in France like the *****ers I used to curse at. If you do decide to go ahead and do it -good luck. PM me if you have any specific questions as I've basically just rambled about my own experience and probably not given you any specific advice. As it kind of feels like I'm just talking to my past self -I'll leave you with a quote from the Royal Tart Toter which I think is appropriate."

Edited by spacedin

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