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Half of Londoners now think renting is 'the norm'

Londoners are becoming increasingly pessimistic about getting on the property ladder, with 50% saying Britain is becoming more like other places in Europe where renting is 'the norm'.

Renting in the capital is becoming 'the norm' according to a large proportion of Londonders Credit: Reuters

A new report by Halifax also found that 83% of potential homeowners in the capital are unwilling to sacrifice the quality of accommodation they currently live in order to save up for a deposit.

The report also found that one in five young people aged 23 to 27 still have no desire to own their own home, despite the introduction of the Government's Help to Buy scheme. The scheme has previously struggled with uptake in the capital, where the average house price is now £458,000.

Islington revealed as personal debt hotspot

Islington is one of the UK's personal debt hotspots, new figures have revealed. Credit: PA Wire

Islington has one of the highest levels of personal loan debt per head in Britain, according to new figures.

The postcode sector of EC1V 2 in London, which covers Islington in north London, has the second highest level of personal debt per head at £2,188 putting it just behind Bath in the list.

The figures, released jointly by the British Bankers' Association (BBA) and the Council of Mortgage Lenders (CML), also revealed that one quarter of Britain's £897 billion mortgage debt is owed by people in London.

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Renters in the capital face a financial crisis

A new survey has shown that 2 in 5 private renters in London have to cut back on food and heat in order to pay their rent. According to campaign Generation Rent 42% said they had to limit their heating while 41% cut back on food.

London has 2 million private renters. 1.5 million people, almost 75% said that they rent because they cannot afford afford to buy their own property. Despite high costs conditions remain poor for many renters. 31% are living in properties with unacceptable dampness.

Landlords are often unsupportive of their tenants with 40% of renters saying their landlord does not care about their living standards.

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Your views: Former slums are now millionaires row

3_fone_pics_097_normal

#capitalcrisis The slums of the 50's & 60's in the East End are now millionaires row! Who can afford to live there now? Only the rich!

33ktptcj_normal

I'd love to live on the river in Putney. Can't afford it. I live in a cheaper area. You can't always get what you want. #capitalcrisis

Your views: Time to bring empty houses into use

49e5b006486daee2a50484724e6a28f5_normal

@itvnews Time to bring empty houses into use that have been sat on by Companies and rich individuals.#CapitalCrisis

Rbr_yujm_normal

@itvlondon #capitalcrisis Social housing is the way, via the 5yr rule they get chance to save up and then take these ‘affordable’ houses..

33ktptcj_normal

It'd be nice to hear talk of garden cities for the north too but job creation is more important. Less London-centric policy. #capitalcrisis

Your views: Help To Buy got me on property ladder

Hrukq4fd_normal

Thnx to #helptobuy I have a property in Greenwich, without it that would've never happened. Instead of wasting money on rent #capitalcrisis

95a4f4f912d06671126eb9c2f77d1e98_normal

#capitalcrisis we have on average 2.700 empty homes in each borough .peopleb4profit Councillors will take back 2 use 4 local homes need

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