London is in the grip of a profound and corrosive housing crisis that is deepening by the day. The average price of a London home has more than doubled in the last 12 years to over £400,000. As this figure has soared, so has demand for accommodation in the private rented sector, where rents now typically devour between 40% and 50% of household earnings. What London's higher wages give, its housing costs more than take away.
The number of households on London boroughs' waiting lists has rocketed and estimates of the effects of the government's reforms to housing and other benefits suggest that tens of thousands of households, including those with children and disabled people, are already having to move into single rooms in shared houses, to smaller homes locally or to a cheaper parts of London far from friends, jobs and schools – or even out of the capital altogether.
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