• On average private rents in London account for 53% of gross earnings

  • In sales, customer service and care, median rents in Inner London and Outer London are close to or above 100% of the typical gross earnings of workers in these sectors

  • In 2014 there were only two London boroughs where the average house price was less than eight times an average person’s income

  • London businesses faced a £5.4bn wage premium in 2015 – equivalent to £1,750 per person – as a result of compensating for housing costs with higher salaries

  • London’s population has grown by approximately one million people over the last 10 years, but we have built only 202,400 new homes over the same period.

  • London’s population will grow to 10 million by 2036.

  • Housebuilding in London peaked in 1934, when 80,000 homes were built in a single year.

  • The current annual housebuilding target for London is a minimum of 42,000 homes a year.

  • Approximately 50,000 new homes are needed every year in London to keep up with demand over the next 20 years.

  • In 2013/2014, just 23,986 homes were built in London.

  • Between 2003–2013 less than half of London Boroughs met or exceeded their average housebuilding target.

  • Since 2001, London’s population has increased by 12%, but housing stock has only increased by 9% during the same period.

  • The average UK house price is £277,000. The average price of a house in London is £513,000.

  • Over the past decade, house prices in London have approximately doubled, while private sector rents have increased by 34%.

  • In the UK the average home now costs seven times the average salary, while in London, house prices are more than 14 times the mean annual salary in the city.

  • On average private rents in London account for 53% of gross earnings.

  • Average monthly rents in London are now twice the national average, even though median salaries in London are just 27% higher than the median national average.

  • If current trends continue, the average listing price of a house in London could easily hit £1 million by the end of 2020.

  • In 2014 there were only two London boroughs where the average house price was less than eight times an average person’s income.

  • London businesses faced a £5.4bn wage premium in 2015 – equivalent to £1,750 per person – as a result of compensating for housing costs with higher salaries.

  • Consumer spending would be as much as £2.7bn higher in 2015 in a world where London accommodation costs grew at the rate of inflation starting in 2005.

  • Every year £1.04bn of economic growth (GVA) is lost due to high housing costs in London diverting money away from more productive expenditure. The total cost is estimated at almost £14.5bn over the 2006–2020 period.

  • £70,000 is the wage threshold at which the number of Londoners finding it easy to service mortgages and rents begins to outnumber those who find it hard.

  • 41% of Londoners would look on a politician more favourably if they were to back housebuilding in their community.

  • 70% of Londoners aged 25–39 say the cost of their rent or mortgage makes it difficult to work in London.

  • 73% of businesses think London’s housing supply and costs are a significant risk to the capital’s economic growth.

  • More than two thirds of businesses list housing costs and availability as having a negative impact on recruitment of entry level staff, with half listing it as an issue for the recruitment of mid-level managerial staff and 23% for senior level staff.

  • One third of London firms believe the lack of affordable housing to rent or own local to their place of work is affecting employee productivity and punctuality.