With the average London tenant needing to work 146 days a year just to pay off their rent, today marks a miserable milestone, writes Sebastian Charleton

This year, London’s Cost of Rent Day falls on Tuesday, 27th May. This means that the average London tenant will have worked for a staggering 146 days just to pay their annual rent. From today, they start earning for themselves.

It’s a pretty miserable milestone but it exposes the scale of the capital’s housing crisis. London is the nadir of nimbyism, remarkable even by UK standards. Whether it’s a row of townhouses or a block of flats, getting anything built is a Sisyphean task. As a result, your average London renter works three weeks longer than the national average just to keep a roof over their heads.

London is only getting worse for renters

Sadly, the situation is only getting worse. Despite its status as the beating heart of the British economy, London is building fewer, not more, homes.

© City A.M.