An entire generation is “priced out” of the housing market

New mayor needs to help young people

The next mayor of London needs to urgently help stop young people from being priced out of the housing market, according to charity Shelter.

The average house price in London is now more than half a million pounds, according to official figures, and there is no sign prices will fall in the near, or even distant, future.

Meanwhile, rents average more than £1,500 per month in the capital.

Campbell Robb, Shelter chief executive, said: “Parents are crying out for the new mayor to give their children the chance of a home they can call their own.

“The capital’s drastic shortage of affordable homes is leaving millions of Londoners stuck in their childhood bedrooms, or in expensive and unstable private renting, with little hope of saving for a home to put down roots in.”

He called on London’s next mayor to do something.

“It doesn’t have to be this way - mayoral candidates must answer their calls, and commit to plans that can build homes Londoners on typical wages can actually afford to rent or buy,” he said.

 

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