Finding temporary accommodation in London at reasonable prices has become very challenging for many people. Due to a large demand for dwellings in the English capital, in the last few years housing market has increased its prices dramatically, forcing many people to leave the city, settling in the surroundings. New Pwc (PricewaterhouseCoopers) research shows that in 2025 just 40% of Londoners will own their own home, upsetting the situation in 2000 with 60% of houses owned by their inhabitants. This phenomena is turning London into a city of renters, hardest hitting young people (currently aged 20-39), with just 26% of them that will own their own home by 2025, against 64% in 2000. With new homeless everyday and key workers that are leaving the city because they can’t afford to pay their rates anymore, local councils are struggling to deal with this problem, not building enough new affordable dwellings and not granting sufficient subsidies to his employees.
Homeowning peak was observed in 2003, with the maximum of 71%, boosted by Right to Buy government policies, established in 1980s. Since then it has started declining, and it is still diminishing, as reported by analyst Neal Hudson at Savills.
Thanks to these reasons, rents are rapidly going up, foreseeing an increase of 14.5% of people privately renting in the UK between 2000 and 2025, with the highest rise of 24.4% in London. Due to low levels of house building and a younger population, the next biggest growth, about 24%, will be in Northern Ireland.
A positive note is that rents, also if considered among the most expensive rents in all Europe, are going up at lower rate than house prices, thanks also to a council freeze on local housing allowance rates since 2016. Unfortunately this is causing troubles to private tenants on low incomes, putting them at risk of poverty and homelessness. Government has failed to provide appropriate housing benefits to private renters that could keep pace with private rents.
This situation make London house market the most expensive and competitive of all Europe, being very difficult to afford a decent accommodation, also for short periods, where tenants can require around 30% higher rates than long-term rentals, due to their loss of income during the void periods and flexible cancellation conditions.
With Ad Hoc Properties you can find an affordable accommodation in the centre of London at low price, becoming a Property Guardian. Ad Hoc Property gathers owners all around the UK with empty properties, vacant for a short period, that need an occupant to protect them from theft, squatting and vandalism. Property Guardians has only to occupy the dwelling or the building and keep their eyes open, to prevent any unauthorised access. Thanks to this service, accommodation is very cheap, compared with rent prices in the city. Moreover, leaving the building empty just for a certain period, is a perfect solution for all the people that are searching for temporary accommodation in London, without getting stuck in long rent contracts.