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Young professionals are abandoning London and the rental crisis
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For example, a typical weekend for Jack Trimmer used to be spent in busy pubs in south-west London
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but they tend to look a bit different now since he moved back into his parents' home in Hampshire a few weeks ago
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Jack told us that the biggest shame is local young families and low-income workers
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that have much less of a choice about where they can live and now also have to compete against young people for the cheapest rent
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He emphasised that without rent controls, everyone is losing except landlords and estate agents
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He told Cityam that life is a lot quieter around where he lives, so expects his personal life to be disrupted
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The 26-year-old scientist had spent the majority of his early 20s in London, but at the start of this year, his landlord told him that he and his three other flatmates would have to leave because they wanted to renovate and sell the house
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Unfortunately, Jack's situation is not unique. He is one of the countless young professionals whose lives have been abused by
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London renting crisis a problem which has been accelerated in the last year by landlords putting their homes on the market in response to rising mortgage rates Figures by property portal zuplah shared with City AM showed that one in ten homes for sale on its website are Aladdin
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Nord selling. More than half of these are in London and the south-east. For many graduates, moving to
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London and securing your first job in the city is almost a right of passage, but a recent study by
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you gov showed that nearly half of 18 to 24 year olds living in the capital now plan to leave within the
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next 10 years. A cocktail of dwindling supply and rising demand has made renting nothing short of a nightmare
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In October, there are over 76,898 people registered on house hunting app, spare room, looking for a single
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room to rent in London, but only 16,803 properties were advertised. The price of a bedroom in a home
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in London is now on average Ā£1,030, up from Ā£933 in the same period last year and Ā£797 the year prior to
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Matt Hutchinson's communications director at spare room told City AM that there is nowhere left in London you can call affordable
