According the data for National Statistics , London 's rents are rising much faster than wages . On average , private rent increased by 3.9 % in London for the year to march 2015 , while labour 's average weekly earnings for full - time workers remained unmoved between 2014 and 2015 . The rent increases have been driven by a shortage of housing supply and strong demand . In addition to this , for England as a whole , private rent increased by 2.5 % over the same period while wages increased by 1.9 % . According to estate agents , Reeds Rains and Your Move , rents in England and Wales rose at their fastest pace in four years .
According the Office for National Statistics, London's rents are rising much faster than wages. On average, private rents increased by 3.9% in London for the year to December 2015, while London's average weekly earnings for full-time workers remained unmoved between 2014 and 2015. The price rises have been driven by a shortage of housing supply and strong demand. In addition to this, for England as a whole, private rent increased by 2.5% over the same period while wages increased by 1.9%. According to estate agents, Reeds Rains and Your Move, rents in England and Wales rose at their fastest pace in four years.