London lettings service Rentonomy claims there is a wall of unaffordability' in the capital encompassing Finchley in the north, Bow in the east, Balham in the south and Twickenham in the west.
The research looks at rental data from over 200 areas of London and assesses the cost of a room as a proportion of a graduate salary. Its definition of affordable' is less than 30 per cent of gross income. So for the average graduate earning £22,400 per year, an unaffordable room costs more than £129 a week or £560 per month.
On this basis, Rentonomy claims 90 per cent of central London is out of bounds to typical graduates.
Of 48 locations in Oyster zones 1 and 2 a graduate can only afford a room in six locations, all in south and east London and all without direct access to the tube - New Cross, Brockley, Walworth, Peckham, Deptford and Hackney. A typical room in each of these took 27 per cent of income.
In zone 3 only one-third of areas are deemed unaffordable
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Comments
Rentonomy's post is an incredible illustration. Why have you not posted the illustration But taken the effort to post some random, meaningless property exterior It's like someone has told you to write about this and you're doing it as much a disservice as you possibly can.
Come on man, have some pride about your work.