Londoners squeezed by relentless cost of living in the capital

Londoners are being squeezed by the relentless high cost of living in the capital, reveals a new study published today.

Polling by Ipsos MORI funded by London Councils found around one in five of all Londoners think the cost of living is the most pressing issue impacting them.

Private renters and young people living in the city were more likely to be aggrieved by the cost of living in London.

80 per cent of people think young people are being prices out of London’s property market, London Councils said.

Rents in London fell 0.1 per cent over the last year, according to the Office for National Statistics, driven by a reduction in demand caused by Brits moving out of cities and to the countryside since the onset of the Covid-19 crisis.

“It’s clear that the cost of living crisis is being felt in communities across the city as Londoners continue to feel the detrimental impact the pandemic has had on our economy,” said Cllr Georgia Gould, chair of London Councils.