Renting in London now more affordable

4 March 2021 | General

Renting in London has become more affordable over the past four years, research from Online Mortgage Advisor has found.

It cost 61% of average net salaries to rent in the city in 2020, down from 80% in 2016.

Analysing major cities across Europe, renting in the Ukrainian cities of Kharkiv, Kiev and Lviv have all seen the biggest change in rental affordability since 2016 – though it still costs around 100% of net salaries to rent in those cities.

Lugano in Switzerland is one of the cheapest cities to rent in, as renting costs just 17% of net salaries, down from 39% in 2016.

Other UK cities that have become markedly more affordable are Oxford, Cardiff and Brighton, where it costs 50%, 31% and 44% of net salaries to rent respectively.

This post has originally been featured in Property Wire.