Rent rising twice as fast as wages in Newham, figures reveal
- Credit: 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.
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.
- 1 3 arrests after death of man found unresponsive in Beckton
- 2 Maryland machete murderer found guilty - as police hunt second attacker
- 3 Jailed: Forest Gate serial arsonist who started more than two dozen fires
- 4 Jailed: 8 east London offenders put behind bars in June
- 5 Man charged with Beckton murder as victim named
- 6 Police officer sacked for 'turning blind eye’ to criminal husband
- 7 The Rolling Stones prove rock ‘n’ roll is alive and kicking at Hyde Park
- 8 Have you seen Lisa, 47, who is missing from Forest Gate?
- 9 Inside east London's new £30m Olympic-size ice centre
- 10 E-fit released after woman sexually assaulted in Newham
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."