2017 Rental Affordability Index

  • To rent the recommended space for one person, Londoners must pay an average of £963.76 per month.

  • On average, Londoners must earn a gross salary of at least £3,323.07 per month to afford to live alone and meet additional living costs. That equates to a gross salary of £39,876.84 per year.

  • A family living in London must earn an average of £6,305.31 per month to cover rent plus living costs. That equates to a gross salary of £75,663.72 per year.

affordabilityrenting

Nested.com, the London based online estate agent, produced the Rental Affordability Index. The study illustrates the price of renting per square metre in 33 London boroughs, 15 UK cities and 72 cities worldwide. Based on this, the research could further convey the minimum gross salary required to support an individual and a family of four in rented property, based on the minimum space recommended for one person, and for a family.

The comprehensive study was undertaken in order to understand the costs associated with renting as an individual and as a family, and to determine whether cities are becoming increasingly unaffordable. The inclusion of specific results for each of the 33 London boroughs allows easy comparison between regional and global cities to the UK capital, with its much-publicised unaffordability. 

The price per square metre of property was calculated based upon current market listings for all locations researched, whilst the minimum space recommended for one person and four people is laid out in guidelines from the Greater London Authority.1 The gross salary guideline was included to help illustrate relative affordability.2 

London

  • To rent a property of the minimum space recommended for one person, Londoners must on average pay £963.76 per month.

  • Taking into account the recommended maximum 29% of income which should be spent on rent,2 on average a Londoner needs to earn a gross salary of £3,323.07 per month to live alone. This equates to £39,876.84 per year.

  • In London, the minimum space recommended for a  family of four requires a monthly income of £6,305.31. This equates to an annual salary of £75,663.72.

  • The least affordable borough to rent in London is Kensington and Chelsea, where rent per square metre is £72.40 per month. 

  • To afford to rent alone and cover additional living costs in Kensington and Chelsea, an individual needs an income of £9,736.55 per month, or £116,838.60 per year.

  • To afford the rent for the minimum space recommended for a family of four in Kensington and Chelsea, a monthly income of £18,474.48 is needed. This is equal to an annual income of £221,693.76.

  • The most affordable borough to rent in London is Bexley, where rent per square metre is £13.30 per month. 

  • To afford to rent alone and cover additional living costs in Bexley, an individual must earn an income of £1,788.62 per month, or £21,463.44 per year.

  • To afford the rent for the minimum space recommended for a family of four in Bexley, a monthly income of £3,393.79 would be required, equal to an annual income of £40,725.48.

 

The results for London, ranked by the cost of rental per square per metre, are as follows:

Borough

Cost Per Sq. Metre

Monthly Rental for a Single Person 

Yearly Income Needed to Afford Single Person Rental 

Monthly Rental for a Family 

Yearly Income Needed for to Afford Family Rental

1

Kensington & Chelsea

£72.40

£2,823.60

£116,838.60

£5,357.60

£221,693.76

2

City of Westminster

£54.82

£2,137.98

£88,468.08

£4,056.68

£167,862.60

3

City of London

£44.42

£1,732.38

£71,684.64

£3,287.08

£136,017.12

4

Camden

£39.50

£1,540.50

£63,744.84

£2,923.00

£120,951.72

5

Hammersmith & Fulham

£32.86

£1,281.54

£53,029.20

£2,431.64

£100,619.64

6

Islington

£32.34

£1,261.26

£52,190.04

£2,393.16

£99,027.36

7

Wandsworth

£31.69

£1,235.91

£51,141.12

£2,345.06

£97,036.92

8

Southwark

£31.29

£1,220.31

£50,495.64

£2,315.46

£95,812.08

9

Lambeth

£30.53

£1,190.67

£49,269.12

£2,259.22

£93,484.92

10

Haringey

£26.65

£1,039.35

£43,007.64

£1,972.10

£81,604.08

11

Hackney

£25.72

£1,003.08

£41,506.80

£1,903.28

£78,756.36

12

Richmond upon Thames

£23.49

£916.11

£37,908.00

£1,738.26

£71,928.00

13

Merton

£22.42

£874.38

£36,181.20

£1,659.08

£68,651.64

14

Tower Hamlets

£21.70

£846.30

£35,019.36

£1,605.80

£66,446.88

15

Barnet

£21.67

£845.13

£34,970.88

£1,603.58

£66,355.08

16

Brent

£20.89

£814.71

£33,712.08

£1,545.86

£63,966.60

17

Kingston upon Thames

£20.50

£799.50

£33,082.80

£1,517.00

£62,772.36

18

Ealing

£20.47

£798.33

£33,034.32

£1,514.78

£62,680.56

19

Enfield

£19.00

£741.00

£30,662.04

£1,406.00

£58,179.36

20

Waltham Forest

£17.70

£690.30

£28,564.08

£1,309.80

£54,198.60

21

Hounslow

£17.47

£681.33

£28,192.92

£1,292.78

£53,494.32

22

Harrow

£17.17

£669.63

£27,708.84

£1,270.58

£52,575.72

23

Lewisham

£16.82

£655.98

£27,144.00

£1,244.68

£51,504.00

24

Greenwich

£16.52

£644.28

£26,659.92

£1,222.48

£50,585.40

25

Newham

£16.50

£643.50

£26,627.64

£1,221.00

£50,524.08

26

Sutton

£16.08

£627.12

£25,949.76

£1,189.92

£49,238.04

27

Redbridge

£15.92

£620.88

£25,691.64

£1,178.08

£48,748.08

28

Hillingdon

£15.83

£617.37

£25,546.32

£1,171.42

£48,472.56

29

Bromley

£15.70

£612.30

£25,336.56

£1,161.80

£48,074.52

30

Croydon

£15.30

£596.70

£24,691.08

£1,132.20

£46,849.68

31

Barking & Dagenham

£14.94

£582.66

£24,110.04

£1,105.56

£45,747.36

32

Havering

£13.88

£541.32

£22,399.44

£1,027.12

£42,501.48

33

Bexley

£13.30

£518.70

£21,463.44

£984.20

£40,725.48

Average across 33 boroughs

£24.71

£963.69

£39,876.84

£1,828.54

£75,663.72

 

UK cities: 

  • The second most expensive UK city for rent prices is Edinburgh at a cost of £12.85 per square metre. 

  • The most affordable city to rent property is Belfast at £6.29 per square metre.  

  • An income of £1,728.10 per month is needed for single habitation in Edinburgh. That equates to an annual salary of £20,737.20 per year 

  • To afford family rental in Edinburgh, a monthly income of £3,278.97 is needed. That equates to an annual income of £39,347.64.

  • An income of just £845.90 per month is needed for single habitation in Belfast. That equates to an annual salary of £10,150.80 per year.

  • To afford family rental in Belfast, a monthly income of just £1,605.03 is needed. That equates to an annual income of  £19,260.36.

  • Single rental in London is more expensive than family rental in any other UK city.  

  • Three of the UK cities made the top 50 global cities list (London, Edinburgh and Bristol)

 

The top 15 results for the UK cities list, ranked by the cost of rental per square per metre, are as follows:

City

Cost Per Sq. Metre

Monthly Rental for a Single Person 

Yearly Income Needed to Afford Single Person Rental 

Monthly Rental for a Family  

Yearly Income Needed for to Afford Family Rental

1

London3 

£24.71

£963.69

£39,876.84

£1,828.54

£75,663.72

2

Edinburgh

£12.85

£501.15

£20,737.20

£950.90

£39,347.64

3

Bristol

£11.22

£437.58

£18,106.80

£830.28

£34,356.36

4

Southampton

£10.68

£416.52

£17,235.36

£790.32

£32,702.88

5

Manchester

£9.79

£381.81

£15,799.08

£724.46

£29,977.68

6

Aberdeen

£9.61

£374.79

£15,508.56

£711.14

£29,426.52

7

Cardiff

£9.24

£360.36

£14,911.44

£683.76

£28,293.48

8

Leeds

£8.92

£347.88

£14,395.08

£660.08

£27,313.68

9

Nottingham

£8.83

£344.37

£14,249.76

£653.42

£27,038.04

10

Sheffield

£8.54

£333.06

£13,781.76

£631.96

£26,150.04

11

Birmingham

£8.51

£331.89

£13,733.40

£629.74

£26,058.24

12

Newcastle

£8.47

£330.33

£13,668.84

£626.78

£25,935.72

13

Glasgow

£8.31

£324.09

£13,410.60

£614.94

£25,445.76

14

Liverpool

£7.19

£280.41

£11,603.16

£532.06

£22,016.28

15

Belfast

£6.29

£245.31

£10,150.80

£465.46

£19,260.36

Global cities:

  • Of the 120 locations included in the ranking, San Francisco is the most expensive city to rent property outside of London, at £42.81 per square metre. 

  • To afford to rent alone and cover additional living costs in San Francisco, an individual must earn £5,757.21 per month. This equates to £69,086.52 per year.

  • To afford rent for the minimum space recommended for a family of four in San Francisco, an income of £10,923.93 per month is needed. This equates to £131,087.16 per year.

  • Of the 120 locations included, Cairo is the cheapest city to rent property, at just £3.05 per square metre. 

  • To afford to rent alone and cover additional living costs in Cairo, an individual must earn £410.17 per month. This equates to £4,922.04 per year.

  • To afford the rent for the minimum space recommended for a family of four in Cairo, a monthly income of £778.28 is needed. This equates to £9,339.36 per year. 

 

The top 50 results for the global cities list, ranked by the cost of rental per square per metre, are as follows:

City

Cost Per Sq. Metre

Monthly Rental for a Single Person 

Yearly Income Needed to Afford Single Person Rental

Monthly Rental for a Family 

Yearly Income Needed for to Afford Family Rental

1

San Francisco, USA

£42.81

£1,669.59

£69,086.52

£3,167.94

£131,087.16

2

New York City, USA

£41.03

£1,600.17

£66,213.96

£3,036.22

£125,636.64

3

Hong Kong, Hong Kong

£33.14

£1,292.46

£53,481.12

£2,452.36

£101,476.92

4

Dubai, UAE

£30.49

£1,189.11

£49,204.56

£2,256.26

£93,362.52

5

Singapore, Singapore

£28.84

£1,124.76

£46,541.76

£2,134.16

£88,310.04

6

Washington D.C., USA

£28.73

£1,120.47

£46,364.28

£2,126.02

£87,973.20

7

Geneva, Switzerland

£26.66

£1,039.74

£43,023.72

£1,972.84

£81,634.80

8

Sydney, Australia

£25.30

£986.70

£40,828.92

£1,872.20

£77,470.32

9

Zurich, Switzerland

£25.19

£982.41

£40,651.44

£1,864.06

£77,133.48

10

Los Angeles, USA

£24.75

£965.25

£39,941.40

£1,831.50

£75,786.24

11

London, UK3 

£24.71

£963.69

£39,876.84

£1,828.54

£75,663.72

12

Miami, USA

£24.53

£956.67

£39,586.32

£1,815.22

£75,112.56

13

Chicago, USA

£21.52

£839.28

£34,728.84

£1,592.48

£65,895.72

14

Copenhagen, Denmark

£20.40

£795.60

£32,921.40

£1,509.60

£62,466.24

15

Tokyo, Japan

£20.20

£787.80

£32,598.60

£1,494.80

£61,853.76

16

Vancouver, Canada

£20.00

£780.00

£32,275.92

£1,480.00

£61,241.40

17

Amsterdam, Netherlands

£19.54

£762.06

£31,533.48

£1,445.96

£59,832.84

18

Paris, France

£18.93

£738.27

£30,549.12

£1,400.82

£57,964.92

19

Melbourne, Australia

£18.18

£709.02

£29,338.80

£1,345.32

£55,668.36

20

Oslo, Norway

£17.39

£678.21

£28,063.92

£1,286.86

£53,249.40

21

Reykjavik, Iceland

£17.34

£676.26

£27,983.16

£1,283.16

£53,096.28

22

Stockholm, Sweden

£17.28

£673.92

£27,886.32

£1,278.72

£52,912.56

23

Dublin, Ireland

£16.81

£655.59

£27,127.92

£1,243.94

£51,473.40

24

Seoul, South Korea

£16.36

£638.04

£26,401.68

£1,210.64

£50,095.44

25

Toronto, Canada

£16.32

£636.48

£26,337.12

£1,207.68

£49,972.92

26

Auckland, New Zealand

£16.24

£633.36

£26,208.00

£1,201.76

£49,728.00

27

Brisbane, Australia

£16.12

£628.68

£26,014.32

£1,192.88

£49,360.56

28

Helsinki, Finland

£15.92

£620.88

£25,691.64

£1,178.08

£48,748.08

29

Beijing, China

£15.80

£616.20

£25,497.96

£1,169.20

£48,380.64

30

Perth, Australia

£15.48

£603.72

£24,981.48

£1,145.52

£47,400.84

31

Munich, Germany

£15.26

£595.14

£24,626.52

£1,129.24

£46,727.16

32

Shanghai, China

£15.17

£591.63

£24,481.20

£1,122.58

£46,451.64

33

Milan, Italy

£15.00

£585.00

£24,206.88

£1,110.00

£45,931.08

34

Rome, Italy

£14.54

£567.06

£23,464.56

£1,075.96

£44,522.52

35

Tel Aviv, Israel

£14.51

£565.89

£23,416.08

£1,073.74

£44,430.60

36

Frankfurt am Main, Germany

£13.71

£534.69

£22,125.12

£1,014.54

£41,980.92

37

Edinburgh, UK

£12.85

£501.15

£20,737.20

£950.90

£39,347.64

38

Dusseldorf, Germany

£12.68

£494.52

£20,462.88

£938.32

£38,827.08

39

Madrid, Spain

£12.04

£469.56

£19,430.04

£890.96

£36,867.36

40

Hamburg, Germany

£11.99

£467.61

£19,349.40

£887.26

£36,714.24

41

Vienna, Austria

£11.88

£463.32

£19,171.92

£879.12

£36,377.40

42

Taipei, Taiwan

£11.88

£463.32

£19,171.92

£879.12

£36,377.40

43

Brussels, Belgium

£11.85

£462.15

£19,123.44

£876.90

£36,285.48

44

Moscow, Russia

£11.60

£452.40

£18,720.00

£858.40

£35,520.00

45

Bristol, UK

£11.22

£437.58

£18,106.80

£830.28

£34,356.36

46

Berlin, Germany

£10.81

£421.59

£17,445.12

£799.94

£33,100.92

47

Southampton, UK

£10.68

£416.52

£17,235.36

£790.32

£32,702.88

48

Osaka, Japan

£10.29

£401.31

£16,605.96

£761.46

£31,508.64

49

Jakarta, Indonesia

£10.28

£400.92

£16,589.76

£760.72

£31,478.04

50

Barcelona, Spain

£10.27

£400.53

£16,573.68

£759.98

£31,447.44

One In Three In The UK Can’t Afford To Eat Healthily

appleMore than a third (39 per cent) of people in the UK – around 25 million – say they do not eat healthily because it is too expensive to do so.   One in seven people (14 per cent) said they do not have time to prepare healthy food, and one in ten (10 per cent) said they do not know how to eat healthily.

 

These are the findings of new research out today from UK health charity Nuffield Health, who questioned more than 3,100 UK adults.  The figures provide a snapshot of the UK’s views on obesity and healthy lifestyle choices.  Experts say the findings are concerning, and show poor understanding about healthy living and an acceptance that obesity has become the norm in society.

 

The research, carried out to support National Obesity Awareness Week, highlights the urgency for effective obesity prevention strategies.  Of those polled, a third of people said they had noticed a rise in obesity in the area they live.  40 per cent of people said that seeing obese adults in the area they live in is common, with almost the same number – 38 per cent – saying that childhood obesity is now the norm.

 

The figures back up research released this week by the National Obesity Forum which shows that current strategies are failing to halt the rise in obesity, and a 2007 prediction that more than half of people in the UK will be obese by 2050 will in fact be exceeded.

 

Of the respondents, a further 550 people who were measured as obese – with a Body Mass Index of more than 30* – were questioned about their views on weight management.

Of this group:

  • Nearly half (48 per cent) are resigned to remaining obese due to a lack of willpower
  • 17 per cent said they had never attempted to lose weight
  • One in five (20 per cent) would rather be overweight than watch what they eat.

 

When questioned about attitudes towards exercise, the figures showed:

  • 40 per cent said they find exercise boring
  • A quarter (25 per cent) do not have time to exercise
  • One in seven (14 per cent) would rather be overweight than have to exercise.

 

When questioned about the Government’s response to tackling the problem, almost half (45 per cent) said that GP referrals for exercise should be considered. 40 per cent would like to see increased funding for recognised weight management programmes, 43 per cent want stricter regulations on ‘unhealthy’ food and drink chains from sponsoring high profile events and 40 per cent said that school meals should be regulated as a matter of urgency.

 

While the majority of respondents (81 per cent) said obesity is the fault of the individual, when questioned about contributing factors to the UK’s obesity epidemic, more than half (55 per cent) said the blame lies with the food industry.

 

Jackie Donkin, Nutritional Therapist at Nuffield Health, said; People who are trapped in the rut that is obesity need to take a step back and really think about the food they are eating.   As a nation, if we continue in this way we are heading for not only an obese population of children and adults, but a chronically ill population.  The key to success is not just dieting, it is long-term lifestyle changes that people need to adopt and which will only work if taken in small steps over a long period of time.

 

Eating more fruit and vegetables, cutting down on takeaways, or eating food in its natural state, rather than covered in rich sauces, will drastically reduce the amount of fat and sugar we eat.  Increasing day-to-day activity; walking up the stairs instead of taking the lift; walking those short distances instead of taking the car; going for a walk around the block in the evening, will all contribute to a healthier lifestyle, which once adopted will become much easier to maintain over time.”