House prices for buyers have started to fall, while housing rents have reached record highs
For Joe, a youth worker in his 20s, soaring rents have made living and working in London precarious.
“Our rent costs 50% of our combined wage before bills,” says Joe, who shares with his partner, a receptionist. They pay £1,450 a month for a “very small” one-bedroom flat. The couple’s tenancy agreement expired recently and they now have a casual agreement with the landlord to stay in the flat.