Four in ten young adults in London cannot afford to buy even the most modest properties in their local area, fresh analysis reveals, as the capital's housing affordability crisis forces an entire generation into long-term renting with monthly costs now averaging a record-breaking £2,121, following a 4.2% increase over the past year.
The stark reality that 40% of young Londoners are unable to afford a property, despite having a deposit, has prompted new research into which London boroughs offer the best prospects for renters. Tower Hamlets has emerged as the capital's top location for tenants, despite mounting affordability pressures across all areas.
