Rent rising twice as fast as wages in Newham, figures reveal
PUBLISHED: 07:00 16 January 2020
PA Wire/PA Images
Rent prices have risen twice as fast as wages in Newham over the last eight years, figures show.
The median monthly rent for a property in Newham was £1,400 in 2018-19, according to the latest figures from the Office for National Statistics (ONS).
That was 56pc higher than during 2010-11, the earliest year with comparable data.
The median is a measure used to exclude extreme values which could skew the average.
You may also want to watch:
But ONS earnings figures show median salaries only increased by 27pc over the same period.
Newham residents - including both full and part-time workers - had an average pre-tax monthly pay packet of £2,177 in 2019, compared to £1,715 eight years earlier.
Rents across England rose by 22pc over the same period to £700 a month, while average salaries increased by 17pc.
Housing charity Shelter chief executive Polly Neate called for urgent investment in affordable social housing.
She said: "Despite working all the hours they can, millions of people are struggling to keep up with the sky-high cost of private rents.
"Recent efforts to improve renters' rights by banning costly letting fees and committing to abolish 'no-fault' evictions are very welcome, but private renting is not always the right place for struggling families to live."
If you value what this story gives you, please consider supporting the Newham Recorder. Click the link in the orange box below for details.